The inflation rate last month went down to 1.6%, 0.1% lower than the estimates made by the National Bank of Romania (NBR) Governor Mugur Isarescu last week.
This is a record-low for the past 21 months, which was attained as the prices of electric and thermal power, gas and water, which generated the biggest price increases in the economy, posted no variations.
The inflation rate between June 2000 and June 2001 reached 35.7%, while the inflation rate between December 2000 and June 2001 stood at 14.8%.
Last month brought no spectacular price increases in the field of services, which generally rose by 1.4%, as prices for railway transportation and telephony services stood still. However, the price of urban transportation rose by 8.6%, which was the most significant increase from this group.
Foodstuff prices posted a 2% increase, but consumer goods registered the most significant price increases. Fruit were 16% more expensive, while the potato price rose by 9.6%. Pork price climbed by about 6%, while beef price was up 5.3%.
The prices of poultry and meat products were over 3% higher, while the eggs' price was 9.5% higher. Milk was 2.5% cheaper, while the cheese price decreased by 4-5%. The prices of non-food products had a stable evolution, posting a 1.2% increase.
Medical products and drugs registered the most significant price increases, as they were 2.5 and 2.6% higher, respectively. The only inflation rate lower than the level posted in June this year was registered in August 1999, when it reached 1.2%.
NBR Governor Mugur Isarescu estimates that, in July and August, the inflation rate will maintain at similar levels as the one registered in June, while during the fall months the average index of consumer prices will be around 2.5%.
Despite the Governor's optimism, the 15% price increase for electric power and the 50% price increase for thermal power, which were enforced on Wednesday, might throw July and August inflation rate off track. However, NBR officials claim that the influence of power price on the economy will be minimal.
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