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Annual inflation rate in Romania advances to 3.8pct in May 2021

The Consumer Price Index (CPI)

 

- Consumer prices were up 0.5% in May 2021 from April 2021.

- The inflation rate since the beginning of the year (May 2021 compared to December 2020) is 3.1%.

- The annual inflation rate in May 2021 compared to May 2020 is 3.8%.

The average consumer price rate over the last 12 months (June 2020-May 2021) as compared to the previous 12 months (June 2019-May 2020) is 2.8%.

 

The Harmonised Index of Consumer Prices (HICP)

 

- The Harmonised Index of Consumer Prices in May 2021 compared to April 2021 is 100.56%.

- The HICP-based annual inflation rate in May 2021 compared to May 2020 is 3.2%.

- The HICP-based average consumer price rate over the last 12 months (June 2020-May 2021) as compared to the previous 12 months (June 2019-May 2020) is 2.3%.

 

Annual inflation rate in Romania rose to 3.8% in May 2021, from 3.2% in April as prices for non-food goods rose by 5.70%, for food goods by 1.52%, and for services by 2.78%, according to data published on Friday by the National Institute of Statistics (INS).

"Consumer prices in May 2021 increased by 0.5% from April 2021. The inflation rate at the beginning of the year (May 2021 versus December 2020) is 3.1%. The annual inflation rate in May 2021 as against May 2020 is 3.8%. The average rate of consumer prices in the last 12 months (June 2020 - May 2021) compared to the previous 12 months (June 2019 - May 2020) is 2.8%," the statement said. .

According to INS, the harmonised index of consumer prices (HICP) in May 2021 as against April 2021 is 100.56%. The May 2021 annual inflation rate calculated on the basis of the harmonised index of consumer prices (HICP) is 3.2%. The average rate of consumer prices in the last 12 months (June 2020 - May 2021) as against the previous 12 months (June 2019 - May 2020) determined against the HICP is 2.3%.

The annual CPI inflation rate in Romania will be markedly up in the coming months and reach 4.1% in December, according to the latest Quarterly Inflation Report published by the National Bank of Romania.

As against the March Inflation Report, the revisions of the annual CPI inflation rate are consistent for the end of 2021 (+0.7 percentage points) and +0.2 percentage points for December 2022 (mainly as a result of a higher contribution from the adjusted CORE2 index). 

 

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