Average monthly inflation rate 0.4pc Jan. through July

Romania’s average inflation rate January through July 2009 has been 0.4 percent.
In July, the consumer price index dropped 0.07 pct against the previous month, show centralized figures made public by the National Institute of Statistics.

The year-on-year inflation rate (July 2008-July 2009) was 5.06 percent.
Overall, the average price growth in the past 12 months (August 2008 – July 2009) calculated on the basis of both the consumer price index and the harmonized consumer price index has been 6.6 pct against the previous 12 months (August 2007 – July 2008).

In July, foodstuff prices went down 0.5 percent compared to June, while the prices for non- foodstuffs and services advanced 0.14 percent and 0.32 percent respectively.

In comparison with July 2008, foodstuffs grew by 3.69 percent more expensive, service tariffs increased 9.41 percent and non-foodstuff prices climbed 4.48 percent.
The National Bank of Romania (BNR) revised 0.1 pct downwards this year’s inflation projection, i.e. from 4.4 percent to 4.3 percent, BNR governor Mugur Isarescu said on Thursday at the presentation of the central bank’s quarterly report on inflation.

The 2010 projected inflation was also revised downwards by 0.2 percent, to 2.6 percent from 2.8 percent.
The International Monetary Fund representatives who have been in Romania on an assessment mission over July 29 – August 10 expect the disinflation process to continue in the coming months, estimating that inflation will reach 4.3 pct at the end of the year.


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