Romania's annual inflation rate climbed to 15.1 percent this June from 14.5 percent in May, as non-food prices rose 17.92, food prices grew 14.67 percent and services grew by 7.81 percent more expensive, shows data released on Tuesday by the National Institute of Statistics (INS)."June's consumer prices inched up 0.8 percent compared to May 2022. Compared to the beginning of the year (June 2022 to December 2021) the inflation rate is 10.0 percent. Year-over-year, the inflation rate is 15.1 percent in June 2022. The average consumer price rate in the 12 months to June 2022 is 9.3 percent compared to the previous 12 months (July 2020 - June 2021)," the INS said.The Harmonized Index of Consumer Prices (HICP), an inflation indicator for EU member states, is 100.78 percent in June compared to May.The annual HICP inflation rate is 13 percent in June 2022 compared to June 2021.The HICP-based average consumer price rate in the last 12 months (July 2021 - June 2022) is 7.9 percent compared to the previous 12 months (July 2020 - June 2021).The statistics authority said that the provisions of OUG No. 27/2022 on the measures applicable to final customers in the energy and natural gas market over April 1, 2022 - March 31, 2023 have been considered for the calculation of inflation.The National Bank of Romania increased its year-end inflation forecast to 12.5 percent and estimates inflation to be 6.7 percent at the end of next year.
Technology company Endava has signed a framework agreement with Romania’s Authority for Digitalization (ADR) to support the migration of at least 30 government applications to the new Government Private Cloud, a project funded through the National Recovery and Resilience Plan (PNRR). The collaboration marks a major step in Romania’s digital transformation strategy, aimed at creating […]
Cris-Tim, the leader in the Romanian cold cuts and ready meal markets, announced on October 15 that it has received approval from the Financial Supervisory Authority to list its shares on the Bucharest Stock Exchange (BVB). The offering is taking place between October 17 and 29. The initial public offering consists of the sale of […]
The private pensions law, which sets out how money can be withdrawn from private pension systems like Pillar II and III, passed the final vote in Parliament and is heading for promulgation. According to the new regulation, participants could withdraw at most 30% of the accumulated savings upon retirement. The rest of the money is […]
The Petrotel Lukoil refinery in Ploiești, in Romania’s Prahova county, will shut down completely for 45 days for a scheduled general overhaul, the company announced on Thursday, October 16. The maintenance work will take place between October 17 and November 30 and will cover both technological installations and auxiliary units,
Via Danubiana, an ecotourism trail following the Romanian stretch of the Danube River, reached a new stage earlier this month with the installation of its first milestone in Teleorman County. The marker, set up in the commune of Islaz, is the fourth along the route and part of efforts to link riverside communities through nature […]
The German STIHL Group has officially inaugurated its first production facility dedicated exclusively to battery-powered equipment in Oradea, western Romania, on Wednesday, October 15, after an EUR 125 million investment. Construction began in March 2024 and was completed in less than 18 months. The factory will gradually increase its production capacity, reaching an annual volume of […]
