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Romania's annual inflation slows to 4.6% in July

Romania's annual inflation slows to 4.6% in July 1000 Words/Shutterstock.com

BUCHAREST (Romania), August 10 (SeeNews) - Romania's annual consumer price inflation decelerated to 4.6% in July from 5.4% in the previous month, the national statistical office, INS, said on Friday.

Food prices rose 3.42% year-on-year in July, while non-food prices were up 6.23%, INS said in a statement.

Prices of services increased by 2.68% year-on-year in July.

On a monthly comparison basis, Romania's consumer price index (CPI) edged down by 0.48% in July, as food prices fell 0.8%, non-food prices decreased by 0.55% and prices of services rose 0.24%.

Romania's central bank said on Wednesday it has decreased its annual inflation forecast for 2018 to 3.5% from 3.6%, back within its target band of 1.5-3.5%. The central bank, BNR, also said in its August inflation report it has cut its 2019 inflation forecast by 0.3 percentage points to 2.7%.

On August 6, BNR maintained its monetary policy rate at 2.50%. BNR last changed the rate in May, increasing it to 2.50% from 2.25%, its third rate hike this year.

(1 euro=4.6427 lei)

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