Analysts consider inflation will slow down in August

The increase in consumer prices will slow down in August, due to the slower increase in the prices of main groups of products, after inflation reached in July the high of the past three years, consider the economic analysts.
The data with the National Statistics Institute (INS) show the rise in consumer prices stood at 0.69% in July, and thus the annual inflation rate reached 9.04%, the highest level in the past 3 years. The increase was cause by higher natural gas and electricity prices.
For August, the analysts forecast monthly price rises between 0.1% and 0,3%. An optimistic scenario refers even to deflation, and the annual rate will stand at 8% – 8.5%.
According to Florian Libocor, chief economist at BRD-SocGen, with a monthly inflation of some 0.3%, the annual figure will be some 8.5% in August, namely lower by 0.5% than in July, but the monthly inflation can stand even below 0.3%. In this case, the annual figure will near 8%. In Libocor’s opinion, “such a surprise may be given by a significant slowdown, even decline, in the prices in the groups of services and non-food products, generated by the leu’s appreciation in August and the reduction in the fuels price”.
The Credit Europe Bank analyst Georgiana Constantinescu believes the monthly inflation will stand at 0.1% in august, and the annual one at 8.2%. She says that as early as July a price decrease was recorded in the sector of good products and the same will happen in August.
Constantinescu forecasts price reductions also for services and non-food products, informs Ziarul financiar.
According to BCR analysts, the annual inflation rate may reduce significantly not only in August, but also in September, due to a rich offer of the local agriculture and decline in the oil price on foreign stock markets, inclusively due a s more stable leu than in 2007.

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