EU annual inflation rate dropped in September to 2.1% from 2.4% in August, but Romania is the country with the highest inflation rate in EU for the seventh month in a row and an annual price growth of 4.8%, according to data released by Eurostat on Thursday. In September, EU member states with the lowest annual inflation rate were Ireland (0%), Lithuania (0.4%), Slovenia and Italy (borht with 0.7%). At the opposite pole the EU member states with the highest inflation rates were Romania (4.8%), Belgium (4.3%) and Poland (4.2%). Compared to August 2024 data, the annula inflation rate dropped in 20 member states, Romania included, from 5.3% to 4.8% , remained stable in 2 countries and went up in 5 member states. In the euro zone, the annual inflation rate dropped from 2.2% in August to 1.7% in September. Also, Eurostat sata show that core inflation dropped slightly from 2.8% to 2.7%. Another indicator which, besides prices for energy and food, excludes prices for cigarettes and alcohol, dropped slightly from 2.8% to 2.7%. Core inflation is the indicator attentively monitored by CEB in elaborating its monetary policy decisions. In Romania's case, the National Statistics Institute (INS) informed last week, that the annual inflation rate went down to 4.62% in September 2024 from 5.1% in August, in conditions in which food prices went up by 4.72%, non food by 3.3% and services by 7.88%. “Consumer price prices in September 2024 against August 2024 was 100.33%. The inflation rate at the beginning of the year (September 2024 compared to December 2023) was 3.8%. The annual inflation rate in September 2024 compared to September 2023 was 4.6%. The average rate of consume price change in the last 12 mo ths (October 2023-September 2024) against the previous 12 months (October 2022- September 2023) was 6.1%, INS informs. According to the mentioned source, the consumer price index in September 2024 compared to August 2024 was 100.40%. The annual inflation rate in September 2024 compared to September 2023 calculated based on the consumer price index was 4.8%. The average rate of consumer price changes in the last 12 months (October 2023-September 2024) against the previous 12 months (October 2022 -September 2023) was 5.4%. The National Bank of Romania (BNR) reviewed as dropping the inflation prognosis for the end of 2024 from 4.9% to 4%and anticipates it will reach 3.4% at the end of 2025, according to data presented in August by BNR governor Mugur Isarescu. According to the presentation, the tendency of dropping inflation rate will continue , but the disinflation rate is anticipated to slow down visibly. “The trajectory is marked by variations, induced by basic effects associated to past evolutions: indirect tax increases in January 2024 with favorable effect in January 2025; corrections of natural gas prices and those of vegetables, fruit, eggs in quarter 2, 2024, with unfavorable effect in quarter 2, 2025; fuel excise increase in July 2024 with favorable effect in July 2025,” the quarterly report on inflation shows.
East Grain Group and Poultry Investment SA have acquired the 45% stake previously held by UBM Group in UBM Feed Romania, thus becoming equal shareholders in one of Romania's largest feed producers, which will now operate under the brand Protena. East Grain is controlled by Czech agri-food group Agrofert, one of the largest agribusiness groups […]
The Foreign Investors Council (FIC) has appointed Ruxandra Băndilă as its executive director. Băndilă will coordinate FIC's activity and "will contribute to strengthening the dialogue with authorities, consolidating the organization's positioning as a reliable partner in promoting a stable and predictable business environment, as well as supporting Romania's becoming a competitive and attractive destination for […]
Romania’s European projects and investments minister, Dragoș Pîslaru, announced that he will notify the European Public Prosecutor’s Office (EPPO) regarding the purchase of electric minibuses for students with EU funds. The minister said that “multiple dysfunctions” were noted in how the EU funds were used in the project. Aside from notifying the EPPO, the minister […]
Only about 44% of employees in Romania say they have used AI in the past year, while the average usage rate in the 48 countries included in the report was 57%, according to the PwC Workforce Hopes and Fears Survey 2025 report. India and Vietnam are at the top, with 84%, followed by China (78%). […]
A new four-star hotel is set to rise next to Bucharest’s Henri Coandă International Airport, following a EUR 45.5 million investment announced by real estate developer D. GROUP. The Wyndham Garden Bucharest Airport Hotel, scheduled to open in July 2027, will introduce the Wyndham Garden brand to Romania for the first time. Located 150 metres […]
Romania ranks 3rd in a European heatwave vulnerability ranking and will experience 3 heatwave events annually, lasting 17 cumulative days with average temperatures of 36.82°C, placing it ahead of all Mediterranean countries, according to new research from climate system experts at Reinders Corporation. The study analysed climate modelling data, heatwave frequency, and average temperatures across […]
