Romania’s consumer price index went down by 0.5% in August compared to July, thus registering the third consecutive monthly decline. Prices went down by almost 0.8% for food and by 0.54% for non-food items, while service prices were almost unchanged compared to the previous month.

Fruit and vegetable prices went down by more than 5% in August compared to July while eggs got more expensive by almost 4%. Among the non-food items, fuel prices went down by almost 3% and drug prices also declined by 0.5%, according to data released by the National Statistics Institute (INS).

The yearly inflation rate in August was -1.9%, mainly because the food prices were 7.15% lower in August 2015 compared to August 2014 following the VAT rate cut on food from 24% to 9% starting June 1, 2015.

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editor@romania-insider.com