The annual inflation rate in Romania rose to 5.42% in July 2024 from 4.94% in June, as prices for food rose by 1.71%, for non-food goods by 6.92%, and for services by 8.52%, according to data published on Monday by the National Institute of Statistics (INS).
"The consumer price index in July 2024 as against June 2024 was 100.60%. The inflation rate at the beginning of the year (July 2024 as against December 2023) was 3.2%. The annual inflation rate in July 2024 was 5.4% year-on-year. The average rate of change in consumer prices in the last 12 months (August 2023 - July 2024) compared to the previous 12 months (August 2022 - July 2023) was 6.8%," according to INS.
The July 2024 harmonised index of consumer prices (HICP) as against June 2024 was 100.59%. The annual inflation rate in July 2024 as against July 2023 calculated against HICP was 5.8%. The average rate of change in consumer prices in the last 12 months (August 2023 - July 2024) compared with the previous 12 months (August 2022 - July 2023) as against HICP was 7.1%.
The National Bank of Romania (BNR) has revised downwards, from 4.9% to 4.0%, its inflation forecast for the end of 2024, expecting it to reach 3.4% at the end of 2025, according to data unveiled on Friday by Governor of the National Bank of Romania Mugur Isarescu.
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