Cheaper food, more expensive services in Romania as inflation inches down below 1% in May

Romania’s annual inflation went down to 0.94 percent in May this year, compared to May 2013, the country’s statistics office announced. Consumer prices in Romania were down by a mere 0.04 percent in May compared to April this year. Food was cheaper, but non-food goods were more expensive, both month-on-month, and year-on-year. Service prices were down from April 2014, but 3.8 percent higher year-on-year. Fresh fruits were almost 6 percent more expensive in May compared to April, while eggs and sugar were 4, and 3 percent cheaper, respectively. The inflation prognosis for this year is of 3.3 percent, according to Romania’s Central Bank, lower from the initial projection of 3.5 percent. The inflation was of 2.1 percent in the last 12 months, compared to the previous 12, according to statistics. editor@romania-insider.com