Romania’s annual inflation rate stays at 5.4% in June

The annual inflation rate, which measures the evolution of consumer prices in the last year, went slightly down to 5.4% in June, from 5.41% the month before, according to data from the National Statistics Institute (INS). This year, the inflation rate increased from 4.32% in January to 5.2% in April and 5.41% in May. The rate in May was the highest since February 2013. Food prices increased by an average of 3.86% year-on-year in June 2018, the prices of non-food products went up by 7.82%, while the services got 2.58% more expensive, INS data shows. Compared to December 2017, the highest price increases were registered in June for other vegetables and canned vegetables – 15.99%, fresh fruits – 14.33%, potatoes – 11.56%, natural gas – 10.43% and air transport – 10.22%. Romania’s National Bank (BNR) has increased its annual inflation forecast for the end of this year, from 3.5% per year to 3.6%. Irina Marica, irina.marica@romania-insider.com