The country’s annual inflation rate stood at 15.05% in June 2022 and to 14.5% in May 2022.
Food prices grew by 16.05%, services prices climbed 8.33%, while prices of non-food items were 16.5% higher in July 2022 compared with July 2021.
Consumer prices were up 0.9% in July 2022 compared to June 2022 after food prices inched up 0.92%, services prices edged up 0.88% and prices of non-food items increased by 0.87%.
The highest price increases in July 2022 compared with July 2021 were recorded by natural gas (+70.1%), fuel (+35.6%), heat energy (+22.9%) and electricity (+15.4%).
The highest food prices were recorded by edible oil (+51%), potatoes (+41.8%), flour (+32.1%), maize flour (+32.8%), bread (+24.5%), margarine (22.3%), eggs, butter and cheese (+18% to 20%), milk (16%), sugar (11.8%), fish (15.7%), dairy (16.5%), coffee (13.4%), meat and meat products (12.7%).
The inflation rate since the beginning of the year (July 2022 compared to December 2021) is 11%
The average consumer price rate over the last 12 months (August 2021-July 2022) as compared to the previous 12 months (August 2020-July 2021) is 10.1%.
The Harmonised Index of Consumer Prices (HICP) in July 2022 compared to June 2022 is 100.46%.
The HICP-based annual inflation rate in July 2022 compared to July 2021 is 13%.
The HICP-based average rate of change in consumer prices over the last 12 months (August 2021-July 2022) as compared to the previous 12 months (August 2020-July 2021) is 8.7%.
Romania’s central bank forecasts an annual inflation rate of 13.9% in December 2022, of 7.5% in December 2023 and of 2.3% in June 2024, as per the quarterly inflation report presented by central bank governor Mugur Isarescu on Tuesday (August 9). Isarescu said the inflation will level off this quarter, despite being likely to see increases in August. “Gradually, the trend will be going downward” and an increase is envisaged between March and April 2023, triggered by a possible cessation of the support scheme for consumers.