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Romania's annual inflation rate speeds up to 5% in March

Romania's annual inflation rate speeds up to 5% in March”

"Although the annual inflation rate should pick up in the coming months, inflationary pressures in Ireland as measured by the headline consumer price index are in general likely to stay well contained for the immediate future", Mr McQuaid added.

The report, however, stated that urban inflation rate eased by 13.75 per cent (year-on-year) in March from 14.76 per cent recorded in February, while the Rural inflation rate also eased by 12.99 per cent in March from 13.96 per cent in February. Governor Godwin Emefiele said the bank would consider cutting rates from where they have been since July 2016 when inflation slows closer to single digits.

The All Items less Farm Produce or Core inflation, which excludes the prices of volatile agricultural produce, rose by 11.2% in March 2018, down by 0.5% points from the rate recorded in February (11.7%).

The prices of food products went up by 4.01% in March 2018 versus the similar month of 2017, on average, while the prices of non-food products increased by 6.57% year-on-year.

Annual price growth in Dublin, where supply pressures are most evident, was put at 12.7 per cent. In contrast, the lowest growth was in Dun Laoghaire-Rathdown, where house prices increased 9.6 per cent year on year.

Inflation accelerated to 1.6% in March from 1.2% in February.

Scope for cuts is limited, said Michael Famoroti, an economist at Lagos-based Vetiva Capital Management Ltd.

"Inflation will rise because of elections spending, expectations of a rise in U.S, interest rates, and expectations of a minimum-wage increase, probably in the second half of the year", he said by phone.



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