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.
The number of people in Romania at risk of poverty stood at 3.59 million people in 2024, 375,000 fewer than in 2023, representing a 9.4% decrease, according to data from the National Institute of Statistics, or INS. Despite the improvement, nearly one in five Romanians was affected by poverty last year. According to INS, 19% […]
The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca carried out multiple searches on Tuesday, July 1, at the Sibiu International Airport and the Sibiu County Council as part of an investigation into suspected fraud involving a EUR 54 million EU-funded infrastructure project. A total of 24 locations were searched across Bucharest, Brașov, and Sibiu county, […]
A Romanian taxi driver who scammed 90-year-old Nigerian Nobel Prize laureate Wole Soyinka was detained by police on Sunday, June 29, according to media reports. On Friday, June 27, the venerable Nigerian arrived at Bucharest's Otopeni Airport. He got into a taxi and asked to be taken to a hotel downtown. At the destination, the […]
Costin Șerban, a Romanian entrepreneur, is digitalizing the construction sector in the United Kingdom with an ERP (enterprise resource planning) solution developed over 12 years and an investment of GBP 1.6 million (EUR 1.86 million). Șerban’s cloud-based ERP platform is called Abilo, was developed by the Romanian IT company Obi Systems, and is dedicated to […]
Border checks between Bulgaria and Romania have officially been lifted on July 1, as part of the implementation of the Schengen Agreement. The lifting marks the end of the transitional period of heightened control at the internal border, which had remained in place for six months following their accession to the Schengen area by land […]
Remus Vulpescu became CEO of the Bucharest Stock Exchange (BVB) on Tuesday, July 1, taking over from Adrian Tănase as the stock exchange grapples with a market dominated by government bonds. Vulpescu, 53, is a graduate in political and legal sciences from the University of Bucharest and holder of an EMBA obtained in 2017. He […]
