Inflation in Romania
Romania - Inflation
Inflation falls in July
Consumer prices rose a seasonally-adjusted 0.89% over the previous month in July, accelerating from the 0.76% rise seen in June. The increase was broad-based across the key sub-components, with prices for food, services and non-food items all rising sharply.
In year-on-year terms, inflation ticked down to 15.0% in July, which followed June’s 15.1%. Annual average inflation rose to 10.1% in July (June: 9.2%).
On the outlook for inflation, ING analysts noted:
“[…] our view is that the overall inflationary trend seems to have peaked and that we should embark on a gradually descending path from October. Our 13.0% estimate for average 2022 inflation looks on track and we believe that the year-end number could come in lower than the National Bank of Romania's 13.9% estimate. […] inflation should continue to descend and is set to reach the NBR’s mid-point of its 1.5%-4.5% target range by June 2024.”
Our panelists see inflation averaging 12.1% in 2022, which is up 0.2 percentage points from last month’s forecast, and 7.4%
Romania - Inflation Data
|Inflation Rate (CPI, annual variation in %)||-0.6||-1.5||1.3||4.6||3.8|
5 years of economic forecasts for more than 30 economic indicators.
Romania Inflation Chart
Source: National Institute of Statistics and FocusEconomics calculations.
|Bond Yield||4.49||0.23 %||Dec 31|
|Exchange Rate||4.26||-0.34 %||Dec 31|
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August 17, 2022
According to a preliminary reading, GDP growth slowed to 5.3% year on year in the second quarter, from 6.4% in the first quarter.
August 12, 2022
Industrial production slid 3.6% year on year in June (May: +0.5% yoy).
August 11, 2022
Consumer prices rose a seasonally-adjusted 0.89% over the previous month in July, accelerating from the 0.76% rise seen in June.
August 5, 2022
At its meeting on 5 August, the National Bank of Romania (NBR) raised the policy rate to 5.50% from 4.75%.
July 13, 2022
Industrial production grew 6.4% year on year in May (April: -9.0% yoy).