The government will continue to take decisions to protect the population’s standard of living, Prime Minister Marcel Ciolacu said on Wednesday, also mentioning that inflation dropped to almost 5 percent in May, i.e. „to what the central bank was forecasting only for the end of this year.”

„The measures taken by the ruling Social Democratic Party, of capping energy and gas prices, as well as markups for basic foods, were the most effective solutions in support of Romanians. We managed to cut down inflation by almost 12 percentage points from the almost 17 percent peak in November 2022 – the steepest decrease in the entire European Union! We will not hesitate to further take decisions to protect the living standards of the population. We want to keep up the Romanians’ purchasing power and to support the advance of Romanian products on the market: I think this is the only ‘tandem’ that matters both this year and in the future,” Ciolacu wrote on Facebook.

The annual inflation rate dropped in May 2024 to 5.12 percent from 5.9 percent in April, as foods grew 1.24 percent more expensive, non-food prices went up 6.38 percent, and service prices advanced 9.29 percent, according to data published on Wednesday by the National Institute of Statistics (INS).

AGERPRES