The annual inflation rate dropped, in May 2024, to 5.12%, from 5.9% in April, in the conditions in which food products rose in price by 1.24%, non-food products by 6.38% , and services by 9.29%, according to the data published on Wednesday by the National Institute of Statistics (INS).

„The consumer price index in May 2024 compared to April 2024 was 99.89%. The inflation rate since the beginning of the year (May 2024 compared to December 2023) was 2.3%. The annual inflation rate in May 2024 compared to May 2023 was 5.1%. The average rate of change in consumer prices in the last 12 months (June 2023 – May 2024) compared to the previous 12 months (June 2022 – May 2023) was 7.6%,” it is shown in the INS press release.

The harmonized index of consumer prices in May 2024 compared to April 2024 was 100.03%. The annual inflation rate in May 2024 compared to May 2023, calculated on the basis of the harmonized index of consumer prices was 5.8%. The average rate of change in consumer prices in the last 12 months (June 2023 – May 2024) compared to the previous 12 months (June 2022 – May 2023) determined on the basis of the IAPC was 7.6%.

The National Bank of Romania (BNR) revised the inflation forecast for the end of this year to 4.9%, from 4.7% previously, and anticipated that it will reach 3.5% at the end of 2025, according to the data presented last month by the governor of the BNR, Mugur Isarescu.

AGERPRES