Romania, highest annual inflation rate in EU, in April
Romania had in April 2009 the highest annual inflation rate in the European Union (EU), 6.5 percent, whereas in the euro zone the annual inflation rate remained not modified in April 2009, at the record level of 0.6 percent, and in the EU it dropped slightly, to 1.2 percent, from 1.3 percent in the previous month, according to a revised estimation published by the European Statistics Institute (Eurostat) on Friday.
In April 2009, the lowest annual inflation rates were registered in Ireland (minus 0.7 percent), Portugal (minus 0.6 percent) and Luxembourg (minus 0.3 percent). At the opposite pole, Romania, with a price jump of 6.5 percent, followed by Latvia and Lithuania, with a price increase of 5.9 percent.
In April 2009 compared to the previous month the annual inflation rate dropped in the 15 member states, remained stable in four member states and was on the rise in seven member states.
In Romania, according to data published by the National Statistics Institute (INS), the inflation rate in April was of 0.27 percent compared to the previous month, whereas the annual inflation (April 2008 – April 2009) dropped to 6.45 percent.
In March, the inflation rate was 0.5 percent compared to February and the annual inflation (March 2008 – March 2009) was 6.71 percent.
According to INS, the average monthly inflation rate over Jan. 1 – April 30, 2009 was 0.7 percent, similar to the same period in 2008.
Romania’s National Bank (BNR) revised downwards, by 0.1 percentage points, the inflation outlook for 2009, from 4.5 percent, in its February 2009 quarterly report, to 4.4 percent, BNR Governor Mugur Isarescu recently announced.
For 2009, BNR revised downwards the basic inflation evolution CORE2, from 2.4 to 1.4 percent, but revised upwards the other components. Inflation targets for 2009 and 2010 remained at the level of 3.5 percent plus/minus one percentage point.