Consumer prices in Romania fell by 0.3% month-on-month in August this year and the annual inflation rate dropped at 0.85%, as prices of food decreased by 0.9%, according to recent data of the National Statistics Institute INS.

In July, Romania’s inflation rate stood at 0.95%. However, the inflation in August is over the level of 0.66% registered in June.

Prices for non-food items also dropped slightly by 0.1% in August, compared to the previous month, while prices for services increased by 0.2%.

Romania’s Central Bank BNR reduced in August the inflation forecast from 3.3% to 2.2% for 2014, and from 3.3% to 3% for 2015.

Irina Popescu, irina.popescu@romania-insider.com