Romania: Inflation continues on upward trend in May
June 12, 2018
Consumer prices jumped 0.5% in May over the previous month, matching April’s rise. Behind the increase were higher prices for non-food and food goods, as well as for services. The strongest increases were recorded for vegetables; and for fuels.
Inflation came in at a fresh multi-year high of 5.4% in May, up from 5.2% in April. As a result, inflation moved further above the Central Bank’s target range of 1.5%–3.5%, where it has been for five consecutive months. Consequently, annual average inflation rose from 2.9% in April to 3.3% in May, the highest level since January 2014.
Romania Inflation Forecast
FocusEconomics Consensus Forecast panelists see inflation averaging 3.8% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect average inflation of 3.2%.