Romania: Inflation picks up in April
May 12, 2014
In April, consumer prices rose 0.27% over the previous month, which was above the virtually flat reading tallied in March. According to the National Institute of Statistics (INSSE), April's increase resulted from higher prices for non-food goods, which more than offset lower prices for food goods and services.
Annual headline inflation edged up from 1.0% in March to 1.2% in April, which marked the highest rate so far this year. Inflation is still below the Central Bank's tolerance margin of plus/minus 1.0% around its target of 2.5%. Annual average inflation fell from 2.9% in March to a record low of 2.5% in April.
The Central Bank foresees inflation ending 2014 at 3.0%. FocusEconomics Consensus Forecast panelists see inflation of 3.9% by the end of 2014, which is up 0.1 percentage points from last month's forecast. For 2015, panelists anticipate 3.6% inflation.
Author: Dirina Mançellari, Senior Economist