Romania Inflation May 2022

Consumer prices rose a seasonally-adjusted 1.18% in May over the previous month, slowing down from April’s 3.74% increase. May’s result marked the lowest reading since February. The result was primarily driven by a softer increase in prices for food. In addition, price pressures for non-food goods moderated.

Inflation increased to 14.5% in May from April’s 13.8%. May’s figure represented the highest inflation rate since November 2003. Meanwhile, the trend pointed up, with annual average inflation coming in at 8.3% in May (April: 7.4%).

FocusEconomics Consensus Forecast panelists see inflation averaging 10.5% in 2022, which is up 1.2 percentage points from last month’s forecast, and 6.2% in 2023.

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