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


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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