Romania’s industrial price inflation hits 15.9% YoY in August
In August 2021, the industrial production prices for the total (domestic market and non-domestic market) were up 1.5% from July 2021. The prices rose by 15.9% compared to August 2020, according to datafrom the National Institute of…
Andrei Chirileasa · Journalist
· Updated · 1 min read
In August 2021, the industrial production prices for the total (domestic market and non-domestic market) were up 1.5% from July 2021. The prices rose by 15.9% compared to August 2020, according to datafrom the National Institute of Statistics.
Industrial price inflation accelerated from just under 14.0% in July and 11.9% in June. The industrial prices on the local market rose faster than the average by 17.4% YoY as of August versus 13.4% YoY advance of the prices of the industrial goods traded on foreign markets.
The key driver for the overall advance of the industrial prices was the 35.5% surge in the prices of the energy inputs (electricity, natural gas mainly).
The prices of the intermediary goods rose by 19.4% YoY as the higher energy prices are passing through towards the consumer prices. The headline inflation hit 5.3% YoY in August.
The National Bank of Romania (BNR) is holding a monetary board meeting on October 5 amid broad expectations for maintaining the refinancing rate at 1.25%.
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