Romania recorded the second-lowest annual inflation rate in the European Union in May, namely 0.5%, according to EU’s statistical office Eurostat.

The annual inflation rate declined to 1.4% in the euro area and to 1.6% in the European Union in May.

Ireland (0.0%), Denmark (0.7%), and the Netherlands (0.7%) also recorded low inflation rates whereas Estonia (3.5%), Lithuania (3.2%), and the United Kingdom (2.9%) saw the highest annual inflation rates in May.

Compared to April, the annual inflation rate slowed down in 24 member states, accelerated in three and stagnated in one.

The data presented by Romania’s National Statistics Institute (INS) last week showed that the country’s annual inflation rate stood at 0.6% in May, a similar level to that registered in April.

Romania’s central bank revises downwards inflation estimate

editor@romania-insider.com