0.6pc annual inflation rate in May

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The annual inflation rate in May was of 0.6%, with price increases for the foodstuff by 2.3% and non-food goods of 0.23%, but also with price decreases for services by 1.26%, the National Statistics Institute (INS) reports.

“Consumer goods prices increased by 0.6% in May 2017 against May 2016. The average rate of consumer goods in the last 12 months (June 2016-May 2017) against the previous 12 months (June 2015-May 2016) calculated o the basis of CPI is of -0.2%. Determined on the basis of HICP the average rate of 0.1%,” the INS release reads.

The National Bank of Romania (BNR) has revised downwards the inflation prognosis for the end of the year by 0.4 percentage points, to 1.6%.

INS informs that potatoes (8.76%), citrus (5.86%), fresh fruits (3.77%) and pork (2.6%) were the products with the highest price increases in May against April. Price decreases were registered for flour, corn flour, beans and other vegetables, oil, bacon and fats, feta cheese and eggs. In the non-food category, price increases were registered for electric power (1.07%), whereas in services the plane tickets became more expensive (by 7.56%).

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