Romania’s annual inflation rate eased to 10.6% in May, from 11.2% the month before, according to the latest data from the statistics office INS. Consumer prices increased by 0.6% in May vs April.

Inflation has steadily declined in recent months, from a peak of 16.8% in November 2022, Ziarul Financiar reported.

Food prices rose by 18.7% YoY in May 2023, the INS report also said. Sugar registered the highest price hike - 58%, followed by butter - 32%, eggs - 30%, cheese - 26%, potatoes - 25%, and milk - 21%.

Non-food goods were 5.1% more expensive in May 2023 compared with the same month in 2022. In this category, thermal energy prices increased the most - 24%, followed by detergents - 16%. Meanwhile, gas was 10% more expensive YoY, while electricity prices rose by 3.7%.

Services also got more expensive in May 2023 vs May 2022 by 11.1%. The biggest price increases were for air transport - 46%, and water, sewer, and sanitation services - 21%.

irina.marica@romania-insider.com

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