Romania's inflation to stay put in July if price for gas hikes less than 10%, central bank says

Inflation in Romania will not climb another peak in July considering that a less than 10 percent price hike for gas would keep annual inflation below the 8.63 percent level reached in March, deputy director of the statistics within the central bank, Constantin Chirca said.

The central bank considered a 10 percent price hike of gas in its last inflation report and estimated inflation hit the peak in March.

Gas distributors E.ON Gaz Romania and Distrigaz Sud asked to increase by 25 percent the price for gas delivered to the population starting July 1 but the power market regulator ANRE postponed answering them for next week. Also it said the increase will not exceed 20 percent.

Annual inflation tempered to 8.46 percent in May. The central bank targets 3.8 percent inflation for the end of the year but it bets on 6 percent.

NewsIn