Romania’s annual inflation rate stood at 1.4 percent in July, compared to 0.85 percent in the previous month, according to the National Institute of Statistics (INS).

“The average rate of consumption prices in the last 12 months (August 2016 – July 2017) versus the previous 12 months (August 2015 – July 2016), based on the CPI basis, stood at 0.1 percent,” said the INS.

The National Bank of Romania has revised upwards the inflation estimate to 1.9 percent by the end of this year, while the previous forecast stood at 1.6 percent.

For the end of 2018, the inflation rate estimate is 3.2 percent, according to the central bank of Romania.