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Financial News: Romania Inflation Eases; Industrial Production Falls

Romania Inflation Eases; Industrial Production Falls

06/12/2020 - 07:17:00 (RTTNews)

(RTTNews) - Romania's consumer price inflation eased in May, data from the National Institute of Statistics showed on Friday.

In a separate communiqué, the statistical office said industrial production logged a sharp contraction in April.

The consumer price index rose 2.3 percent year-on-year in May, after a 2.7 percent increase in April. Inflation was forecast to ease to 2.4 percent.

Prices of food products grew 5.25 percent and those of non-food products rose by 0.15 percent in May. Services cost increased by 2.60 percent.

On a monthly basis, consumer prices climbed 0.05 percent in May.

Another report from the statistical office showed that industrial production declined a seasonally and working-day adjusted 27.7 percent month-on-month in April.

Production in manufacturing decreased 32.4 percent monthly in April and mining and quarrying output fell 6.8 percent.

Meanwhile, energy output rose 0.6 percent.

On an annual basis, industrial production declined 38.6 percent in April.

On an unadjusted basis, industrial production fell 38.4 percent monthly in April and declined 36.2 percent from a year ago.

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