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Romania's annual inflation rate stays flat in May

Romania's annual inflation rate stays flat in May

BUCHAREST (Romania), June 12 (SeeNews) - Romania's consumer prices rose by 4.1% year-on-year in May, the same rate of increase recorded in the previous month, the national statistical office, INS, said on Wednesday.

Food prices rose 5.24% year-on-year in May, while non-food prices added 3.27%, INS said in a statement.

Prices of services grew by 4.30% in May.

On a monthly comparison basis, Romania's consumer price index (CPI) rose 0.46% in May, as food prices added 0.79%, non-food prices added 0.20%, and prices of services rose 0.55%.

The average consumer price inflation over the last 12 months as compared to the previous 12 months was 4.2%, INS said.

In May, Romania's central bank (BNR) raised its annual inflation forecast for 2019 to 4.2% from 3%, outside its target band of 1.5-3.5%.

On May 15, BNR maintained its monetary policy rate at 2.50%.

The central bank last changed its key rate in May 2018, increasing it to 2.50% from 2.25%.

(1 euro=4.7232 lei)