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|17 September 2018, 6:07 PM|
By Andra Beltz
For the seventh consecutive month in August Romania had the highest annual inflation rate among the EU member states, with an increase in consumer prices of 4.7%, after it had 4.3% cent inflation rate in July, shows data published on Monday by the European Statistical Office (Eurostat).
The annual inflation rate in the European Union (EU) dropped to 2.1% in August from 2.2% in July, while in the euro area inflation fell to 2% from 2.1% in the previous month. Among the EU member states, the highest annual inflation rates were recorded in Romania (4.7%), Bulgaria (3.7%), Estonia (3.5%) and Hungary (3.4%).
Compared with July 2018, the annual inflation rate decreased in 22 member states, remained stable in five other countries and increased in ten countries (including Romania from 4.3% to 4.7%).
For the euro area, the annual inflation rate went down to 2% in August from 2.1% in the previous month. The most significant impact on the annual price increase occurred in energy prices (0.87 percentage points), followed by prices for services (0.59 percentage points) and food and cigarettes (0.48 percentage points).
According to the National Institute of Statistics (INS) data released on September 11, consumer prices in Romania in August 2018, compared with August 2017, increased by 5.1%. The annual rate calculated based of the Harmonized Index of Consumer Prices (HICP) is 4.7%. The average inflation rate over the past 12 months (September 2017 - August 2018) over the previous 12 months (September 2016 - August 2017), based on the CPI, is 4.2%. Depending on the HICP, the average rate is 3.5%,' reads a release of the INS.
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