Inflation rate at the highs of the past five years: 5.2pc in April

The average inflation reached 5.2% in April 2018 as compared to April 2017, a record of the past 5 years, and compared to March 2018 the increase was 0.5% in April according to data released on Monday by the National Statistics Institute (INS).

A yearly inflation rate of 5.2% has not been recorded since April 2013.

According to the INS, the average inflation rate in the past 12 months (April 2017 – April 2018) against the previous 12 months (April 2016 – April 2017), calculated as CPI, was of 2.8%.

Determined as HICP, the average rate was of 4.3% in April.

The annualized price increases reached 4% for foodstuff in April, 7.2% for non-food goods and 2.8% for services.

The National Bank of Romania (BNR) increased the inflation forecast for December 2018 from 3.5% to 3.6%, maintaining it at 3% for December 2019. BNR Governor Mugur Isarescu explained that the increase of wages is unavoidable, but it will be reflected in prices.

In the previous edition of the Report on inflation, for December 2018 the inflation forecast was of 3.5%, with a peak of 5% in the second quarter; in the current edition, the December forecast is 3.6%, with fluctuations around 5% in Q2 and Q3, followed by moderation in Q4.

average inflationBNR GovernorfoodstuffMugur Isarescunon-food goodsprice increasesrecord of the past 5 yearsReport on inflationservicesstatistics
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