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.
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 […]
The National Anti-Corruption Directorate (DNA) conducted a series of raids on Tuesday, July 22, as part of a criminal investigation into alleged corruption involving Cristian Popescu Piedone, the head of the National Authority for Consumer Protection (ANPC). Prosecutors suspect Piedone of tipping off a business in advance of an inspection, according to Biziday.ro. The investigation...
Social Democratic Party (PSD) president Sorin Grindeanu has firmly denied rumours that the party intends to leave Romania's ruling coalition, dismissing such claims as baseless and criticising those spreading them. His statement came during a press conference on July 21, amid growing internal tensions over the government's fiscal decisions, particularly the suspension of funding for […]
Romanian prime minister Ilie Bolojan has offered assurances that public investment projects already in advanced stages under the Anghel Saligny National Programme will continue, despite the government’s decision to halt broader funding for the scheme due to budgetary constraints. His statement was made during an interview on B1 TV on July 21, following a wave […]
The Social Democratic Party (PSD) of Romania will propose a new 0.5% turnover tax to apply to companies that currently pay profit tax, PSD president Sorin Grindeanu announced during a press conference on July 21, Economica.net reported....
The chain of medical clinics operated by the European medical group Affidea expanded to 74 after it acquired three new clinics in Otopeni, Miercurea Ciuc, and Braila. The national chain now covers 32 cities, according to a group's press release. "The Affidea Romania investment plan for 2025 will exceed EUR 100 million, which will be […]
