The consumer price index in June 2024 compared to May 2024 is 0.24%.
Services prices grew by 8.8%, food prices by 1.1%, while prices of non-food items were 6.2% higher in June 2024 compared to June 2023.
During the same period, the highest food prices were recorded by canned fruit (9.76%), wine and beer (7.2%-8%), beef, pork and fish (5.5%-6.4%).
In contrast, the biggest price drops were recorded by flour and maize flour (30%), edible oil (18.5%), butter (14.3%) and sugar (12.4%).
In June 2024 compared with June 2023, the highest price hikes in non-food items were recorded by medicines (+23.9%), detergents (+21.9%), books, newspapers and magazines (+10.1%), cosmetic products (16.3%), tobacco and cigarettes (10.7%) and footwear (+7.8%).
In terms of services, the highest price increases were recorded by postal services (+26.5%), plane tickets (10.1%), water supply, sewage collection and sanitation (+15.27%), medical care (+11.47%) and restaurant prices (10.43%).
The inflation rate since the beginning of the year (June 2024 compared to December 2023) is 2.6%.
The average rate of change in consumer prices over the last 12 months (July 2023-June 2024) as compared to the previous 12 months (July 2022-June 2023) is 7.2%.
The Harmonized Index of Consumer Prices in June 2024 compared to May 2024 is 100.06%.
The HICP-based annual inflation rate in June 2024 compared to June 2023 is 5.3%.
The HICP-based average rate of change in consumer prices over the last 12 months (July 2023-June 2024) as compared to the previous 12 months (July 2022-June 2023) is 7.3%.
The accelerated decline in consumer prices prompted the Romanian central bank’s Board to finally start the monetary relaxation in June 2024. Therefore, the country’s central bank decided to lower its benchmark interest rate to 6.75% a year from 7% a year, starting July 8, 2024, after having kept the key rate unchanged, at 7% a year, since January 11, 2023.
The inflation rate since the beginning of the year (June 2024 compared to December 2023) is 2.6%.