Romania May CPI + 0.15% On Mo, +4.4% On Yr

Romanian consumer prices inched up 0.15% in May from April, held back by cheaper food, but the annual inflation accelerated to 4.42%, the country’s statistics institute INS said Thursday.

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In May, the annual rate was 4.28%.

Analysts estimated the monthly CPI would come in at 0.1%-0.3% in May, while the annual inflation was seen at 4.4%-4.6%.

Food prices nudged down 0.1% on the month in May, but non-food and service tariffs increased 0.2% and 0.5% on the month respectively, INS said.

The country's harmonized index of consumer prices, or HICP, stood at 4.7% end-May, from 4.9% the month before.

Romania's central bank targets an annual inflation of 3.5% in 2010, plus/minus one percentage point. Recently, the bank has raised its forecast for the year-end inflation to 3.7% from 3.5% previously.

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