Romanian Inflation Speeds Up Further as Tax Hikes Boost Pressure

Romanian inflation continued to accelerate in June, as recently announced tax hikes designed to trim the European Union’s widest budget deficit will keep up the pressure on prices in coming months.

Consumer prices rose 5.7% from a year earlier, compared with 5.5% in the May, the statistics office in Bucharest said on Friday. That’s above the 5.5% median estimate in a Bloomberg survey and the highest since April last year. Prices increased 0.5% on the monthly basis.