Annual inflation rate up to 5 pct in July 2021

The annual inflation rate has risen to 5 pct in the month of July 2021, from 3.9 pct in June, given that non-food products were more expensive by 7.64 pct, services by 2.74 pct and foodstuffs by 2.33 pct, according to data published on Wednesday by the National Institute for Statistics (INS). The consumption prices in July 2021 compared to June 2021 rose by 1 pct, and since the beginning of the year (July 2021 compared to December 2020), the price increase was of 4.4 pct. The median rate of consumption prices in the past twelve months (August 2020 - July 2021), over the previous 12 months (August 2019 - July 2020) is 3.1 pct. According to the INS, the Harmonised Indices of Consumer Prices (HICP) in July 2021 compared to June 2021 is 100.46 pct. "The annual inflation rate in July 2021 compared to July 2020 calculated on the basis of the HICP is 3.8 pct. The median rate of consumer prices in the past 12 months (August 2020 - July 2021) over the previous 12 months (August 2019 - July 2020) determined using HICP is 2.5 pct," the INS specifies. The National Bank of Romania increased to 5.6 pct the inflation forecast for the end of this year, according to a presentation conducted on Monday by the Governor of the National Bank of Romania, Mugur Isarescu.AGERPRES(RO - editor: Andreea Marinescu; EN - author: Razvan-Adrian Pandea, editor: Maria Voican)