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.
Romania’s leading investor and developer of sustainable residential, mixed-use, and office real estate projects, announces the acquisition of a 5,755 sqm plot of land at 110-112 Barbu Văcărescu Street. The company plans to develop a mixed-use tower on the site, in an area that pairs proximity to nature with easy access to Bucharest’s main business […]
AmpliFY ONG and Orange Foundation, through the Orange Digital Center program, are launching Digital Builders, a program that helps Romanian NGOs manage their data more efficiently, simplify monitoring processes, and better assess the impact of their activities. The project runs from September to December 2026 and brings together NGO representatives, student volunteers, and experts to […]
More than 636,000 homes were completed in Romania between 2016 and 2025, equivalent to almost 33 new homes per 1,000 inhabitants, according to an analysis by Cushman & Wakefield Echinox based on housing completion data compiled for the 2016-2025 period. These figures place Romania broadly in the middle of the 21 European markets included in […]
Artificial intelligence is bringing increasingly clear benefits to medicine worldwide. Doctors are spending less time on paperwork, while the number of patients treated each week is rising. These are the findings of the Future Health Index, the largest global study of its kind, conducted by Royal Philips. The study surveyed more than 2,000 healthcare professionals […]
Major banks are stepping into the spotlight this week to reveal their latest corporate performance, offering a key test of strength after five straight weeks of market declines. Investors are looking for evidence that rising interest income can offset higher funding costs and growing economic pressures. The US banking sector ETF posted five consecutive weeks […]
A 55-square-metre flat, bought with a 15% down payment and a 25-year mortgage, would take 56.3% of the average net salary. After the mortgage payment and a minimum cost-of-living basket, an employee on an average income would be left with EUR 47 a month. The calculation, made by the Institute for Visionary Cities (IOV) and […]
