3.9pct inflation in June, industrial production went up by 16.9% in the first 5 months of 2021

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Romania’s annual inflation rate increased to 3.9 percent this June from 3.8 percent in May, as prices for non-foods advanced 5.71 percent, for food 2.17 percent, and for services 1.59 percent, according to the latest report released by the National Institute of Statistics (INS).

Consumer prices were 0.3 percent up compared to May 2021 and the year-to-date inflation rate (June 2021 compared to December 2020) is 3.4 percent.

The 12-month average rate for consumer prices (July 2020 – June 2021) compared to the previous 12 months (July 2019 – June 2020) is 2.9 percent.

According to the INS, the harmonized index of consumer prices in June 2021 compared to May 2021 is 100.24 percent.

The June 2021 HICP annual inflation rate is 3.5 percent and the average rate of consumer prices in the last 12 months (July 2020 – June 2021) compared to the previous 12 months (July 2019 – June 2020) determined against the HICP is 2.4 percent.

According to the Quarterly Inflation Report published by the National Bank of Romania, the annual CPI inflation rate will be markedly up in the coming months and will reach 4.1 percent in December.

Industrial production up by 16.9% in the first 5 months

At the same time, INS reported that the industrial production went up by 16.9% as gross series and by 17.5% as series adjusted for business days and seasonality during the first 5 months of this year, as against the similar time frame of 2020.

There were increases registered in the manufacturing industry (19.2%) and the production and supply of electricity, heat, hot water and air conditioning (12.1%). The mining industry decreased by 3.8%.

As series adjusted for business days and seasonality, industrial production rose by 17.5% in the first 5 months of the year, due to increases in the manufacturing industry (+ 19.3%) and in the production and supply of electricity and heat, gas, hot water and air conditioning (+12.1%). The mining industry decreased by 4.6%.

In May 2021, industrial production dropped from the previous month by 6.0% as gross series and 8.5% as adjusted series, based on the number of working days and seasonality.

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