Romania’s annual inflation rate surpasses European average this July

Euro area annual inflation was 2.4 percent in July 2012, stable compared to the previous month according to Eurostat, the statistical office of the European Union. A year earlier the rate was 2.6 percent. EU annual inflation was 2.5 percent in July 2012, also stable compared to June. A year earlier the rate was 2.9 percent. Monthly inflation was -0.4 percent in July 2012.

In Romania the annual inflation rate stood at 3 percent this July, up from 2.04 percent the previous month, shows data from the National Institute of Statistics. The central bank’s iflatian target for 2012 is 3.2 percent.

In July 2012, the lowest annual rates were observed in Sweden (0.7 percent), Greece (0.9 percent), Germany and Latvia (both 1.9 percent), and the highest in Hungary (5.7 percent), Malta (4.2 percent) and Estonia (4.1 percent).

Compared with June 2012, annual inflation fell in twelve member states, remained stable in one and rose in fourteen.

The lowest 12-month averages up to July 2012 were registered in Sweden (1.0 percent), Ireland (1.6 percent) and Greece (1.8 percent), and the highest in Hungary (4.9 percent), Estonia (4.6 percent) and Slovakia (4.1 percent).

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The main components with the highest annual rates in July 2012 were alcohol & tobacco (4.7 percent), housing (3.8 percent) and transport (3.2 percent), while the lowest annual rates were observed for communications (-3.1 percent), education (0.7 percent) and recreation & culture (1.0 percent).

Simona Bazavan