Romania's inflation accelerated for the second consecutive month and at a faster-than-expected pace in July, data from the statistical agency INSSE revealed Friday.
The consumer price index (CPI) rose 3 percent year-on-year, following a 2.04 percent gain in June. Economists had forecast a figure of 2.7 percent. Inflation fell to a record low 1.79 percent in May.
The National Bank of Romania has an inflation target of 3 percent for 2012 and 2.5 percent next year. The central bank expects inflation to come in around 3.8 percent in the third quarter.
While deciding to leave the benchmark interest rate unchanged on August 2 the central bank noted that heightened asymmetric risks to the inflation outlook have emerged amid an adverse external environment and domestic political tensions.
Month-on-month, consumer prices moved up 0.59 percent in July.
by RTT Staff Writer
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