Annual inflation remained in negative territory in July to minus 0.8 pc

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The annual inflation remained in negative territory in July to minus 0.8%, against minus 0.7% in June, according to data released on Wednesday by the National Statistics Institute (INS).

“Consumer prices, measured by the consumer price index (CPI), were lower by 0.8% in July 2016 as compared to July 2015. Determined by the Harmonised Index of Consumer Prices (HICP) the decrease was of -0.3%,” INS informs.

The average consumer prices rate in the last 12 months (August 2015 – July 2016) against the previous 12 months (August 2014 – July 2015), measured by CPI, was of -1.9%. Determined on the HICP, the average rate was of -1.6%.

In July 2016 against July 2015, the consumer prices have risen by 1.25% of foodstuff group, but decreased in the non-food by 2.2% and for services by 0.93%.

The National Bank of Romania (BNR) anticipates an inflation rate of minus 0.4% by the end of this year, one percentage point below the estimates announced in May this year of 0.6%, according to the quarterly Inflation Report presented on Monday by the BNR Governor Mugur Isarescu.

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