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Consumer prices down 0.05 pct in July


Consumer prices dropped by 0.05 percent in July 2014 compared to June 2014, with the inflation standing at 0.95 percent compared to July 2013, according to the data the National Statistics Institute (INS) sent on Monday.

'Average price increases overall, over the past 12 months (Aug. 2013 - July 2014) compared to the previous 12 months (Aug. 2012 - July 2013), against the consumer price index is 1.5 percent and 1.4 percent against the harmonized index of consumer prices,' the INS release reads.

Last month, food prices went down 0.3 percent, and by 1.88 percent compared to the previous year.

Non-food prices fell slightly by 0.01 percent, but against the previous year, they jumped by 2.52 percent, according to the release.

Service fees rose by 0.36 percent in July compared to June, and by 2.48 percent compared to 2013.

For this year, the National Bank of Romania (BNR) established an inflation target of 2.5 percent plus/minus one percentage point. The National Bank of Romania (BNR) has downwardly adjusted to 2.2 percent the end-2014 inflation projection. The previous projection announced in May by BNR for end-2014 was 3.3 percent.