Romania champions inflation growth in EU

Romania recorded the biggest annual inflation rate in May out of all members of the European Union, according to Eurostat, the statistics office of the EU.

With an annual inflation rate of 4.6 percent last month, Romania was ranked first. Estonia was second with 3.1 percent. Romania had recorded an annual inflation rate of 0.5 percent in May 2017.

Eurostat data further shows that Euro area annual inflation rate was 1.9 percent in May 2018, up from 1.3 percent in April. A year earlier, the rate was 1.4 percent. EU annual inflation was 2.0 percent in May 2018, up from 1.5 percent in April. A year earlier, the rate was 1.6 percent.

In May, the highest contribution to the annual euro area inflation rate came from services (+0.72 percentage points), followed by energy (+0.58 pp), food, alcohol & tobacco (+0.50 pp) and non-energy industrial goods (+0.08 pp).