BUCHAREST, June 12 (Xinhua) -- The inflation rate went up 5.4 percent in May in Romania, the highest level in the five years, according to data released on Tuesday by the National Institute of Statistics (INS).
According to INS, food commodities grew by 3.93 percent in May, non-food goods by 7.75 percent and services by 2.72 percent.
A higher inflation rate was recorded in February 2013, when consumer prices climbed 5.65 percent, according to the official Agerpres news agency.
At the beginning of May, the National Bank of Romania (BNR) upwardly revised its previous inflation forecast for 2018 from 3.5 to 3.6 percent.
While the National Prognosis Commission has also revised the projection for 2018 inflation to 3.2 percent, from 2.6 percent, in its spring version of the medium term forecast 2018-2021, published at the end of April.
In the latest World Economic Outlook, published in April, the International Monetary Fund has revised the estimates of consumer price developments in Romania this year up to 4.7 percent, from 3.3 percent estimated in October, with the rhythm of price rises decreasing in 2019 to 3.1 percent.
The European Commission estimates that the inflation rate will rise to 4.2 percent this year in Romania and will slow to 3.4 percent next year.
Romania's base inflation (excluding the prices of food and energy) would rise from 0.8 percent in 2017 to 3.3 percent in 2018 and 3.5 percent in 2019, according to European Commission.
