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În August 2017, the annual inflation rate was 1.2%

  • Consumer prices were up 1.2% in August 2017 compared to August 2016.

  • The average rate of consumer prices based on the CPI over the last 12 months (September 2016-August 2017) as compared to the previous 12 months (September 2015-August 2016) was 0.2%. The average rate based on the HICP was 0.3%.

The annual inflation rate stood at 1.2 pct in August, down 0.22 percentage points as compared to the previous month's level, reads a press release of the National Institute of Statistics (INS) sent on Tuesday.

In July, the annual inflation rate was 1.4 pct, up from 0.85 percent the month before. 

"Consumer prices in August 2017 as compared to August 2016 increased by 1.2 pct. The average consumer price over the past 12 months (September 2016 - August 2017) against the previous 12 months (September 2015 - August 2016), calculated based on the Consumer Price Index (CPI), is 0.2 pct," reads the document. 

Calculated based on the Aggregate Consumer Price Index, the average rate is 0.3 percent. 

The National Bank of Romania (BNR) revised the inflation forecast for the end of this year to 1.9 pct at the beginning of August, given that it had previously estimated an inflation rate of 1.6 pct, down by 0.1 points percentage. 

For the end of 2018, BNR estimates an inflation rate of 3.2 pct, from 3.1 pct previously, and for the end of the first semestre of 2019 an inflation rate of 3.5 pct is expected. 

According to BNR, the CPI annual inflation rate going back to the target interval is anticipated to take place in Q3 2017. 

Calculated against constant taxes, the inflation rate will reach 2.9 percent in December 2017, a value over the 2.5 percent median inflation target.