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Romania’s consumer price inflation increases to 3.8% y/y in May


Romania’s National Institute of Statistics (INS) announced that consumer prices rose 3.8% year-on-year in May, compared to an increase of 3.2% in April.

Food prices rose 1.52% year-on-year in May, while non-food prices added 5.70%, said INS in a statement on Friday.

Prices of services grew by 2.78% and on a monthly comparison basis, Romania‘s consumer price index (CPI) rose 0.53% in May, as food prices were 1.10% higher, non-food prices rose by 0.28% and prices of services were 0.27% higher.

The average consumer price inflation over the last 12 months was 2.8%, compared to the previous 12 months.

On May 14,  decided to raise its 2021 inflation forecast to 4.1% from 3.4% predicted in March, outside its target band of 1.5-3.5%.

On May 12, Romania’s central bank decided to maintain its monetary policy rate at 1.25%.