The annual inflation rate fell to 6.61% in December 2023, from 6.72% in November, as food commodities rose by 5.82%, non-food commodities by 5.51% and services by 11.21%, according to data from the National Institute of Statistics (INS) published on Friday."The consumer price index stood at 100.26% in December 2023 compared to November 2023. The annual inflation rate was 6.6% in December 2023 compared to December 2022. The average rate of change in consumer prices was 10.4% in the last 12 months (January 2023 - December 2023) compared to the previous 12 months (January 2022 - December 2022)," the INS states.According to the cited source, the Harmonized Index of Consumer Prices (HICP) was 100.22% in December 2023 compared to November 2023. The annual HICP inflation rate was 7% in December 2023 compared to December 2022. The HICP-based average consumer price rate in the last 12 months (January 2023 - December 2023), year-over-year, was 9.7%.The National Bank of Romania (BNR) maintained its inflation forecast for the end of this year at 7.5% and raised it to 4.8% for the end of 2024, according to data presented in November by BNR governor Mugur Isarescu. The BNR was estimating in August 2023 an inflation of 7.5% for the end of 2023 and 4.4% for the end of 2024.The BNR also expects the annual inflation rate to rise to 7.7% at the end of the first quarter of 2024, before falling to 6.8% at the end of the second quarter of next year, according to the Quarterly Inflation Report, November 2023 edition.
JUNE agency becomes the communication partner for Generatik, the digital platform for planning mall advertising campaigns, launched by Brand Management. The partnership between the two teams is not only about visibility, but also about the responsibility of bringing to the forefront a product that redefines the way brands plan their presence in shopping malls. Together, […]
Cargus has announced an investment of over EUR 500,000 in a new logistics hub in Drobeta-Turnu Severin, marking a significant expansion of its operations in southwestern Romania. The courier company, one of the leading players in the local market, is relocating to a newly built facility that doubles the size of its previous hub in […]
Milk Teeth (Dinți de lapte), the second fiction feature written and directed by Romanian filmmaker Mihai Mincan, will have its world premiere in the competitive Orizzonti section of the 82nd Venice International Film Festival, taking place between August 27 and September 6. The official selection was announced Tuesday, July 22, during the festival’s press conference. […]
Real estate developer Forte Partners announced the start of construction on the office component of U Center 3, a EUR 100 million investment in Bucharest, following the issuance of the building permit at the end of June 2025. The residential part of the final phase of the U Center project will begin in 2026. Following […]
More than half of Romanians believe the communist regime was more of a good thing for Romania, with nearly 56% saying more positive than negative developments occurred under communism. The finding comes from a new INSCOP Research survey commissioned by the Institute for the Investigation of Communist Crimes and...
Energy group Hidroelectrica has signed the contract for its first floating photovoltaic project, Nufārul, marking a major step in Romania’s renewable energy development. The signing took place on Monday, July 21, and involves an investment of RON 39.25 million (around EUR 7.75 million, excluding VAT). Developed by Waldevar SRL, Marine Research, DHI-SW Project SRL, and […]
