The NBR forecasts an inflation rate of 9.2% in September 2025, falling to 8.8% by December and then to 7.9% at the end of 2026, with a significant decline to 2.7% at the end of the second quarter of 2027

According to the NBR's August 2025 report, annual inflation will rise to 9.2% in September 2025, then fall to 8.8% in December. Tax increases and higher energy tariffs will influence these values. The estimates suggest inflation of 7.9% at the end of Q2 2026 and 2.7% in 2027. Inflationary risks remain high and the domestic economy is exposed to uncertainties, in particular due to the economic context in the euro area.