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Bucharest
March 9, 2021
ECONOMY FINANCE&BANKING

Annual inflation in Romania, still in -3.5pc negative territory in May 2016

Year-on-year inflation in Romania continued in negative territory in May 2016, at -3.5 percent, further down from -3.3 percent in April 2016, according to data released on Friday by the National Institute of Statistics (INS).
‘Consumer prices included in the consumer price index (CPI) were 3.5 percent smaller in May 2016 than in May 2015. Against the harmonised consumer price index (HCPI), the drop was 3 percent,’ says INS.
The goods and services which prices went down in May 2016 from April 2015 made up 66.9 percent of the total, whereas the goods and services which prices advanced more than 2.5 percent in the same period made up 13.3 percent of the total.
Average consumer price index June 2015 – May 2016 against June 2014 – May 2015 computed against the CPI was – 2.1 percent; against the HCPI, it was -1.7 percent.
Consumer prices in May 2016 versus May 2015 were down 7.57 percent for foods, 1.23 percent for non-foods and 0.62 percent for services.
The National Bank of Romania has downwardly adjusted its 2016 inflation annual estimates to 0.6 percent, down 0.8 percentage points from its February estimates, according to the BNR quarterly inflation report.
Consequently, the National Prognosis Commission (CNP) has downwardly adjusted its end-year inflation forecast to 0.9 percent, from 1.8 percent, as previously estimated in its autumn and winter forecasts.
In its spring estimates, INS also downwardly adjusted the average annual inflation rate from 0 percent in the winter estimates to 0.7 percent.

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