Romania’s headline inflation eases to 3.7% y/y in August

By bne IntelliNews September 12, 2013

Romania’s consumer price inflation eased to 3.7% y/y in August from 4.4% y/y in July and 5.4% y/y in June, the statistics office INS reported. The overall price stabilisation was driven by a significant 3.1% decline in food prices over the past three months [Jun-Aug]. Consumer prices decreased by 0.5% over the period despite the rise in non-food prices and services’ fees.

Food prices increased by only 2.4% y/y in August, driven by abundant vegetables and fruit crops this year, while the non-food goods advanced by 5.0% y/y on adjustments of regulated energy prices, and the services’ fees increased by just 3.2% y/y remaining constrained by the subdued demand [disposable incomes] and stable exchange rate [many fees are defined in euro].

Romania’s central bank sees the end-year headline inflation at 3.1% y/y and also forecasts that the annual inflation would remain within the 1.5%-3.5% target band for the two-year horizon envisaged, its latest Quarterly Inflation Report dated August shows. It is the second consecutive downward adjustment of the forecasts issued on a quarterly basis by the central bank.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania’s government insists anti-corruption head Kovesi must go

Romania’s government has appealed to the Constitutional Court after President Klaus Iohannis refused to endorse the government’s request to dismiss anti-corruption head Laura Codruta ... more

UAE investor to develop $500mn agri-food group in Romania

The Al Dahra Group of the United Arab Emirates (UAE) wants to purchase nearly 60,000 hectares of agricultural land along the Danube River, develop a logistics company including water and road ... more

Romanian president rejects justice minister’s request to dismiss head of anti-corruption body

Romanian President Klaus Iohannis said on April 16 he is rejecting a request from the justice minister to dismiss the head of the National Anticorruption Directorate (DNA), Laura Codruta Kovesi. ... more

Most Read

  1. Europe pushes back against US sanctions on Russia
    2 days ago
  2. Romanian developers get in the game
    6 days ago
  3. Putin and Trump trying to walk back Syria strike and sanctions tensions
    6 days ago
  4. What’s the cost of US sanctions on Russia?
    7 days ago
  5. Is Armenia facing a colour revolution? Popular protests on the rise in Emerging Europe
    2 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    28 days ago
  2. Europe pushes back against US sanctions on Russia
    2 days ago
  3. Romanian developers get in the game
    6 days ago
  4. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    15 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    6 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss