Annual inflation rate up to 5.41pc, highest level since February 2013

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The annual inflation rate, which measures the evolution of consumer prices in the past year, climbed in May to 5.41%, the highest level since February 2013, when it was 5.65%, the National Statistics Institute (INS) informed on Tuesday.

In April, the annual inflation rate rose to 5.2%, up against March, when it was 5%.

In May, as compared to the same month last year, foodstuff prices grew by 3.93%, on average, non-food goods prices climbed by 7.75% and prices of services increased by 2.72%.

The highest price increases were recorded for potatoes (18.56%), fresh fruit (18.37%), other vegetables and canned vegetables (17.47%) and natural gas (10.43%) as compared to December 2017.

The fuel price, which has a wider impact on other prices, increased by 5.69% in May against December.

The inflation rate will remain at the 5% level reached in March, but then it will decrease again and at the end of the year it will reach 3.6%, National Bank Governor, Mugur Isarescu, announced last month in a press conference to revel the quarterly report on inflation.

However, the forecast has been revised upwards, as the previous one indicated a 3.5% rate at the end of 2018.

At the same time, at the end of 2019, the annual inflation rate will reach 3%, Mugur Isarescu said.

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