The annual inflation rate rose to 5% in July 2021, from 3.9% in June, given that non-food goods rose by 7.64%, services by 2.74% and foods by 2.33%, according to data published on Wednesday by the National Institute of Statistics (INS).

Consumer prices in July 2021 compared to June 2021 increased by 1% and since the beginning of the year (July 2021 compared to December 2020) the price increase was 4.4%.

The average rate of consumer prices in the last 12 months (August 2020 – July 2021) compared to the previous 12 months (August 2019 – July 2020) is of 3.1%.

According to the INS, the harmonized index of consumer prices in July 2021 compared to June 2021 is of 100.46%.

“The annual inflation rate in July 2021 compared to July 2020 calculated on the basis of the Harmonized Index of Consumer Prices (HICP) is of 3.8%. The average rate of consumer prices in the last 12 months (August 2020 – July 2021) compared of the previous 12 months (August 2019 – July 2020) determined on the basis of HICP is of 2.5%,” states INS, according to Agerpres.

The National Bank of Romania increased its inflation forecast to 5.6% for the end of this year.