The monthly inflation rate slowed from March and February, when prices rose 0.67% and 0.7% on the month, respectively. In March, the country’s annual inflation rate stood at 8.63%, the highest level since January 2006 when the rate was at 8.89%.
In the first four months of the year, the inflation rate stood at 2.78%, while average inflation was at 6.4%, the institute said.
The slowdown in April monthly inflation was driven by a 0.4% decrease in services prices brought down by lower telecom bills, which fell 1.66% on the month compared with a robust 1.4% increase in March.
Non-food prices also rose a slight 0.46% on the month and 5.51% on the year in April, due to an almost 2% rise in fuel prices.
Prices for food rose 1.05% on the month and 11.4% on the year, with fruit and edible oil prices rising 3.67% and 8.18% on the month, respectively. In the food section, eggs and potato prices posted the only decreases of 4.73% and 1.34% on the month in April, respectively, the institute said.
Romania’s central bank has set an inflation target of 2.8%-4.8% for 2008, but expects it to exceed the target range, reaching 6% by yearend due to persistent inflationary shocks from last year.
Last week, central bank governor Mugur Isarescu said inflation will stay above the target range until the first quarter of 2009, but expects it to start slowing this autumn.