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).
This article series tells the stories of the 15 finalists selected in the BVB Arena program. BVB Arena is the flagship program of the Bucharest Stock Exchange, dedicated to developing and promoting the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest growth potential and high chances […]
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
