Romanian inflation at 8.16% y/y in July, above expectations

Romania's consumer price inflation slowed to 8.16% in July, down from 10.42% in the previous month, though the figure came in above market expectations. According to Business Recorder, the National Statistics Board released the data on Wednesday.

A Reuters poll of analysts had a median forecast of 7.90% year-on-year inflation for the month. The outcome was therefore above that median estimate. The central bank targets inflation between 1.5% and 3.5%, so the reading remains above that range.

On a monthly basis, prices rose 0.58% in July. Food prices fell 0.29%, while non-food goods rose 0.98% and services climbed 1.01%. Services and non-food items both rose, while food was the only category to decline.