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April inflation – Annual inflation parks at 6.45%, meeting analysts’ expectations

The yearly rate of inflation went down a slope in April over March, to 6.45 percent from 6.71 percent on cheaper services and stagnating prices for food stuff which partially offset the higher prices for non food goods, the Statistics Institute (INS) showed.

Analysts NewsIn polled last week pointed to an annual rate of inflation in April between 6.4 and 6.7 percent considering the rather stable exchange rate and the cheaper imported medicine which countered the negative impact of rising excises for alcohol and tobacco.

Consumer prices rose in April by 0.27 percent after a 0.81 percent increase of prices for non food items and a 0.03 percent inch of those for food goods. Still, tariffs for services, calculated in euros but paid in lei in Romania, went down 0.45 percent, INS also announced.

The consumer basket in Romania includes 37.58 percent food items, 44.05 percent non food goods and 18.37 percent services. 

Moreover, prices of cigarettes and tobacco grew 6.25 percent month-on-month in April and 1.34 percent for vegetables. Fuels are 0.27 percent more expensive and medicine 0.47 percent, INS showed.

On the other hand products like oil, potatoes and dairies were cheaper in the fourth month this year, but not by much. As for services, rents reduced 0.97 percent while tariffs for public transportation were 0.38 percent higher in April over March, according to INS.

Romania’s central bank BNR set a yearly inflation target of 3.5 percent, take or leave one percentage point. However, the last prognosis points to a 4.4 percent level at yearend, slightly revised from the previously set target.

At the end of last year the annual rate of inflation slipped to 6.3 percent over the BNR aim of 3.8 percent. Romania should keep a close eye on inflation as reaching the targets is crucial, an official of the International Monetary Fund (IMF) recommended after the institution agreed to grant an external loan to help prop up the economy and restart engines.

 

Sursa: http://www.newsin.ro

Tags: percent inflation april prices annual bnr

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