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

Romania’s consumer price inflation fell to 8.16% on the year in July from 10.42% the previous month, above expectations, data from the National Statistics Board showed on Wednesday.

The median forecast of a Reuters poll of analysts put Romanian inflation at 7.90% year-on-year, above the central bank’s 1.5%-3.5% target.

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Data showed prices rose 0.58% on the month in July, with food prices down 0.29%, non-food prices up 0.98% and services up 1.01%.