Annual inflation rate up to 5.3 in August

The annual inflation rate went up to 5.3 pct in August 2021, from 5 pct in July, given that non-food stuffs were more expensive by 7.92 pct, foodstuffs by 2.7 pct, and services by 2.97 pct, according to data published on Friday by the National Institute for Statistics (INS).

According to the INS, consumer prices in August 2021 compared to July 2021 increased by 0.2 pct. The inflation rate at the beginning of the year (August 2021 compared to December 2020) is 4.7 pct. The annual inflation rate in August 2021 compared to August 2020 is 5.3 pct. The average ratio of consumer prices in the past 12 months (September 2020 - August 2021) over the previous 12 months (September 2019 - August 2020) is 3.3 pct.

Furthermore, the harmonized indices of consumer prices in August 2021 compared to July 2021 is 100.18 pct.

According to the INS, the annual inflation rate in August 2021 compared to August 2020 calculated on the basis of the Harmonized Indices of Consumer Prices (HICP) is 4 pct. The average ratio of consumer prices in the past 12 months (September 2020 - August 2021) over the previous 12 months (September 2019 - August 2020) determined on the basis of the HICP is 2.6 pct.

The National Bank of Romania increased to 5.6 pct its inflation prognosis for the end of this year, according to a presentation done in August by the Governor of the Bank of Romania, Mugur Isarescu.