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Year-on-year inflation goes down to 7.93%

The consumer price index declined 0.29 percent this June on a monthly basis, bringing year-on-year inflation down to 7.93 percent.

In the first six months of 2011, inflation stood at 0.5 percent. Compared with December 2010, it increased by 2.75 percent, according to data released on Monday by the National Statistics Institute (INS). The average price increase in the past 12 month - July 201 to July 2011 - compared with July 2009 - July 2010, computed against the consumer price index and the harmonised consumer price index is 7.8 percent.Data with the INS also indicate that food prices fell by 1.34 percent this June, on a monthly basis, while non-food prices increased by 0.19 percent and services charges advanced 0.68 percent.

Potatoes, vegetables, citrus fruit and milk, major contribution to deflation in June

Potatoes, other vegetables and canned vegetables, citrus fruit and milk reported the highest slumps in prices, significantly contributing to the 0.29 percent deflation reported this month, according to data released on Monday by the National Institute of Statistics. Food price dropped an average 1.34 percent in June.

The potatoes dropped 11.34 percent, other vegetables and canned vegetables dropped 12.34 percent, the citrus fruit and other tropical fruit got cheaper by 2.32 percent, beans dropped 0.87 percent, milk 0.04 percent and cheese 0.69 percent. Higher prices were reported for fresh fruit, 2.19 percent, eggs, 0.50 percent, coffee, 0.45 percent and margarine, 0.41 percent, etc.

The non-food products prices went up by 0.19 percent. The cars and the spare parts went up by 0.75 percent, the fuel, by 0.66 percent, the books, newspapers and magazines by 0.25 percent, etc. The medical items and medicine got cheaper by 0.03 percent.

The services tariffs reported a total increase of 0.68 percent. The telephone tariffs went up by 2.01 percent, the health care, by 0.45 and the rent by 0.42 percent.

Romania inflation in keeping with Euro Area

The inflation in June went on a downward trend, after having peaked in May, following the adopted fiscal measures, Cristian Cochintu, analyst with Admiral Markets told Agerpres on Monday. 'It is in keeping with the Euro Area inflation, where 2.8 percent recorded in April is going to be this year's maximum, with the most recent forecast of the European Central Bank being of 2.6 percent for 2011 and 1.7 for 2012. The slowing down pace can be felt in Romania too, more intensely at that, given that the inflation was forced by the VAT hike and the external factors do not seem menacing, with the oil barrel quotation being on a downward trend. The National Bank of Romania's target, however, will not be hit, but the slowing down predictions can be overturned by the rise in the regulated prices', Cochintu explained.The consumer price index dropped 0.29 percent in June from May, with the year-on-year inflation rate reaching 7.93 percent.

Sursa: http://www.actmedia.eu

Tags: percent inflation dropped fruit prices vegetables price euro

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