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Romania's inflation slows to 5.1% y/y in May

Jun 12, 2024, 2:52:27 PMArticle by Alexandru Cristea
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June 12 (SeeNews) - Romania’s consumer prices rose by 5.1% on the year in May, following a 5.9% annual increase in April, the statistical office, INS, said on Wednesday.

Romania's inflation slows to 5.1% y/y in May
Romania's CPI as of May 2024. Source: INS, unsplash.com

The average annual inflation rate in the last 12 months was 7.6%, INS said.

Food prices rose by 1.24% year-on-year in May, while non-food prices increased by 6.38%. The price of services grew by 9.29%.

In May, Romania's consumer price index (CPI) edged down by 0.11% compared to the previous month, with service prices rising by 0.38%, food prices inching down by 0.02%, and non-food prices shedding 0.37%.

On May 13, Romania's central bank said it decided to keep its monetary policy rate unchanged at 7% on expectations of a further slowdown in inflation.

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