Romania’s industrial price inflation drops to 3% y/y in April.
Romania’s annual industrial price inflation decelerated to 3% in April from 4.5% a month earlier, the statistics office reported. The price index shrank by 0.7% m/m in April after decreasing 0.3% m/m in March.
It was the lowest annual industrial inflation reached since the period of late 2009 and early 2010 - when the sharp contraction in industrial prices was prompted by weak demand and inventory cycle effects.
The data indicates that the industrial disinflation has foreign origins again. The stabilisation of industrial prices this year was more visible for the goods traded on external markets -- where the prices actually decreased by 0.6% y/y in April. On the contrary, the prices on the domestic market went up 4.9% y/y.
In terms of categories of goods, the consumer goods’ prices posted the steepest rise of 6.9% y/y in April, still slower than March's 7.8% y/y, meaning that the lower industrial inflation will not necessarily help disinflation. Consumer price inflation edged up to 5.3% y/y in April from 5.25% in March.
On the opposite, the prices of intermediary and capital industrial goods, that are more related to external markets, increased by only 1.6% y/y.
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