The annual inflation rate in the European Union decreased in August to 2.4%, from a level of 2.8% in July, and Romania is, for the sixth month in a row, the country with the highest inflation in the bloc community, with an annual price advance of 5.3%, according to the data published on Wednesday by Eurostat. In August, the EU member states with the lowest annual inflation rates were Lithuania (0.8%) and Latvia (0.9%). At the opposite pole, the EU member countries with the highest inflation rates were Romania (5.3%), Belgium (4.3%) and Poland (4%). Compared to the data from July 2024, the annual inflation rate decreased in 20 member states, including Romania from 5.8% to 5.3%, remained stable in one country and increased in six states members. In the euro area, the annual inflation rate decreased from 2.6% in July to 2.2% in August. However, Eurostat data shows that core inflation, i.e. what remains after prices for volatile goods such as energy and food are removed, remained stable at 2.8%. Another indicator that, in addition to energy and food prices, also excludes cigarette and alcohol prices, decreased slightly, from 2.9% to 2.8%. Core inflation is the indicator closely followed by the ECB when elaborating its monetary policy decisions. In the case of Romania, the National Institute of Statistics (INS) reported last week that the annual inflation rate dropped, in August, to 5.1%, from 5.42% in July, as food commodities they increased in price by 4.25%, non-food by 4.35%, and services by 8.60%. The harmonized consumer price index in August 2024 compared to July 2024 was 100.28%. The annual inflation rate in August 2024 compared to August 2023 calculated on the basis of the Harmonized Index of Consumer Prices (HICP) was 5.3%. The average rate of change in consumer prices in the last 12 months (September 2023 – August 2024) compared to the previous 12 months (September 2022 – August 2023) determined on the basis of the HIPC was 6.7%. The National Bank of Romania (BNR) revised down the inflation forecast for the end of 2024 to 4%, from 4.9% previously, and anticipates that it will reach 3.4% at the end of 2025, according to the data presented in August by the governor of the BNR, Mugur Isarescu.
Ten non-governmental organizations in Romania have issued a joint letter criticizing the executive for the emergency ordinance adopted on Thursday, January 16, which provides sanctions, including a turnover tax, for social media giants that fail to obey rules regarding electoral ads. Another government measure under fire from the opposition limits voting in the diaspora according […]
Dacia, part of the French Renault group, will launch several electric models to compete with Chinese brands for the affordable EV car market in Europe. The first electric model will be the next Sandero, which will appear sometime at the end of 2027, the brand's director, Denis Le Vot, said on Thursday, according to Reuters. […]
Happy 2025, dear Insiders, may it be a good year! And let it start with classics, some universal, some underground. Italian director Federico Fellini is one of the biggest names in the history of the medium. To say he was very influential is an understatement. He has his own adjective (Fellini-esque) while scenes from his […]
Romanian national airline Tarom announced the establishment of a new company, Tarom Tehnic, dedicated to providing maintenance and repair services for civilian aircraft, specializing in Boeing, Airbus, and ATR models. The new company is expected to generate revenues of up to EUR 10 million in its first year of operation, according to estimates from the […]
Romania has been named the special guest country at the 2026 Cairo International Book Fair, the Ministry of Culture announced. The event will coincide with the celebration of 120 years of Romanian-Egyptian diplomatic relations. According to the ministry, the news was shared by Dr. Ahmed Fouad Hano, Egypt's minister of culture, during a press conference […]
Bucharest has started implementing a special recycling project that directly benefits stray animals. In Tineretului, Floreasca, and Circului parks, eco-friendly vending machines have been installed to provide food and water for stray cats in exchange for recycling bottles and aluminum cans. “Street cats lead a hard life, especially in winter. Food is essential for their […]
