The annual inflation rate slightly decreased in August this year, down to 9.43%, from 9.44% in July, in the context in which food prices rose by 11, 88%, non-food by 6.98%, and services by 11.72%, according to data released on Wednesday by the National Institute of Statistics (INS).In August, compared to July, the inflation rate was 0.54%."The inflation rate since the beginning of the year (August 2023 compared to December 2022) is 4.9%. The annual inflation rate in August 2023, compared to August 2022, is 9.4%. The average rate of change in consumer prices in the last 12 months (September 2022 - August 2023) compared to the previous 12 months (September 2021 - August 2022) is 13.2%," says the INS.According to the same source, the harmonized index of consumer prices in August 2023, compared to July 2023, is 100.78%. The annual inflation rate in August 2023, compared to August 2022, calculated based on the harmonized index of consumer prices (IAPC) is 9.3%. The average rate of change in consumer prices in the last 12 months (September 2022 - August 2023) compared to the previous 12 months (September 2021 - August 2022) determined on the basis of the HIPC is 11.8%.The National Bank of Romania (BNR) has revised upward the inflation forecast for the end of this year to 7.5%, from 7.1%, and to 4.4% for the end of 2024, according to the data presented by the Governor of the BNR (National Bank of Romania), Mugur Isarescu.According to the presentation, the basic scenario was built considering the legislation in force at the time of the projection and does not include the impact of the fiscal consolidation measures recently discussed by the authorities. The trajectory is above the one presented in the Inflation Report of May, but with a significant change being recorded only towards the end of the current year (+0.4 pp).It is also mentioned that there are wide uncertainties regarding the projected trajectory in the context of the likely adoption of the fiscal correction measures on the side of budget revenues, with a direct impact on CPI inflation (for example, increases in indirect taxes - VAT, excises).
Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a […]
Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations. Pavel tried to see as much of what Romania had to offer. He planned his routes, […]
Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy. […]
Prime minister Ilie Bolojan announced that he will visit Brussels next week to talk to three European commissioners about deficits, defense, and EU financing. The first meeting will be with the commissioner for economy, Valdis Dombrovskis, as Romania “must adjust the issues related to deficits to be a trustworthy country, so as not to continue […]
A large majority of Romanians, namely 85%, have heard of celebrated composer George Enescu, according to the third edition of the Informat.ro – INSCOP Research Barometer conducted earlier this month. However, the survey shows a slight decline in cultural awareness compared to 2013, particularly among younger generations. The
The volume of trade between Romania and China was almost USD 9.3 billion in 2024, according to official statistics. Trade between the two, however, is not balanced. Romania registered a USD 7.7 billion deficit with China, and a USD 2.1 billion deficit in the first quarter of 2025 as well. The People’s Republic of China […]
