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Increase in price slows down in May at 0.46 pct; annual inflation rate stays at 4.1 pct

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Consumer price increased by 0.46 per cent in May 2019 against the previous month, and by 3.22 per cent against the end of last year (December 2018), while the annual inflation rate maintained at 4.1 per cent, on the background of the increasing prices for food stuffs by 5.24 per cent, non food stuffs by 3.27 per cent and services by 4.3 per cent, according to data released on Monday by the National Institute of Statistics (INS). 

In April, consumer prices went up to 0.61 per cent compared with March and the annual inflation rate stood at 4.1 per cent. 

„The consumer price increased by 4.1 per cent in May 2019 compared with May 2018. The annual inflation rate, calculated based on the harmonized index of the consumer prices (HICP), is 4.4 per cent. The average rate of consumer prices in the past 12 months (June 2018 – May 2019) compared with the previous 12 months (June 2017 – May 2018), calculated based on the HICP, is 4.2 per cent. Determined based on the HIPC, the average rate is 4.1 per cent,” reads the INS release. 

The National Bank of Romania (BNR) in mid-May increased to 4.2 per cent the inflation prognosis for the end of this year and estimates an inflation of 3.3 per cent for 2020. 

BNR estimated in February 2019 a 3 per cent inflation for the end of the year, and 3.1 per cent for 2020. 

The European Commission forecast that Romania’s inflation rated would stand at 3.6 per cent in 2019 and 3 per cent in 2020, according to the spring economic forecast published on May 7.


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