Inflation in Q1, 3.2%

Inflation in March reached 1.1%, up 0.3% from the previous month, primarily because of a higher increase in the prices of certain foodstuffs. March last year was registering an all time low for the inflation in Romania, 0.4%. Three months through the year, inflation has reached 3.2%, below the 3.4% estimate. If compared with March last year, the inflationary rate was 17.1%. The average monthly inflation in Q1 was 1.1%, compared with the 1.3% in the same time last year. Q2 usually comes with inflationary progress, mainly because of the increase in the food prices. At the same time, the trend of the oil price worldwide remains a wild card. The National Statistics Institute (INS) says foodstuffs became 1.3% more expensive on the average last month, while non-foodstuffs prices gained one percentage point. Services were 0.8% more expensive. ZF