Romania, biggest annual rate of inflation in EU in May

Romania had in May 2009 the biggest annual rate of inflation in the European Union, 5.9 per cent, while in the Euro zone the annual rate of inflation dropped to the record level of 0.0 per cent from 0.6 per cent in April, and in the European Union it dropped to 0.7 per cent, from 1.3 per cent in the previous month, according to an estimate published on Tuesday by the European Statistical Office (Eurostat), according to Agerpres.

In May 2009, the lowest annual rates of inflation were registered in Ireland (-1.7 per cent), Portugal (-1.2 per cent), Spain and Luxembourg (both -0.9 per cent). At the opposite pole we find Romania, with a price rise of 5.9 per cent, followed by Latvia (4.9 per cent) and Lithuania (4.9 per cent).

In May 2009, compared to the previous month, the annual rate of inflation dropped in 24 member states, remained stable in one state and increased in another state. The inflation rate in May 2009 was 0.1 per cent in the Euro zone and in the European Union, compared to April 2009. In the case of the Euro zone, an annual inflation rate of 0.0 per cent represents the lowest value of inflation registered since the launching of the Euro currency in 1999.

Romania and Bulgaria registered a growth of 18.6 per cent of the hourly cost of labour in adjusted form (subject to the number of working days), in the first quarter of 2009, compared to the same period from 2008, this being the biggest growth registered in the 27 member states of the European Union, according to the data presented on Tuesday by Eurostat.

At the opposite pole, the smallest growth of the hourly cost of labour was registered in Great Britain (minus 5.5 per cent), Greece (minus 3.3 per cent) and France (minus 0.6 per cent). In the European Union as a whole, the hourly cost of labour rose 1.5 per cent in the first quarter of 2009, against the same period of the past year, after a growth of 4.5 per cent in the last quarter of 2008. In the Euro zone, the hourly cost of labour has increased by 3.7 per cent in January-March 2008, against the same interval of the past year, after a growth of 4 per cent in the last quarter of 2008.

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