Romania’s annual inflation rate rose to 1.21 percent at the end of April, from an all-time low of 1.04 percent a month earlier, ending a five-month period of declines, official data showed Monday.
In spite of the increase, inflation remains below the central bank’s 1.5-3.5 percent target.
INS’s data shows consumer prices increased 0.3 percent up on the month. Food and services prices were each 0.1 percent down. Non-food prices rose 0.7 percent.
The most significant price increases were registered for fuel (up 3.16 percent) and tobacco (up 1.77 percent), as a result of new tax excises.
Central bank Governor Mugur Isarescu said on Thursday a decision to lower the bank’s end-2014 inflation forecast to 3.3 percent from 3.5 was “strongly justified” and energy prices will put less upward pressure on inflation than previously expected.