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).
Radu Miruță, currently Romania’s economy minister, was proposed to lead the Defense Ministry. He will also hold the position of deputy prime minister. In his place, senator Irineu Darău has been proposed to take the helm of the Economy Ministry. The Defense and Economy Ministries are handled by the center-right reformist party Save Romania Union […]
Carrefour Romania has expanded its proximity retail network, reaching 200 Express stores and 191 Market locations nationwide, as part of its strategy to strengthen convenience formats. The retailer announced that the 200th Carrefour Express store will open on December 22. In 2025 alone, Carrefour opened 27 Express stores, including 19 company-operated units and eight franchise […]
Bucharest Tribunal rejected on Wednesday, December 17, an appeal filed by former presidential candidate Călin Georgescu against a lower court decision to keep him under judicial control in a case in which he is accused of promoting legionary ideology. The ruling is final,
European chief prosecutor Laura Codruța Kovesi, the former head of Romania's National Anticorruption Directorate (DNA), said she was “shocked” by the revelations made by magistrates in the Recorder documentary ‘Captured Justice,' released on December 9. The media investigation, which fueled major street protests in Romania, details how...
Romania is among 19 European Union member states asking the European Commission to allocate funding for the creation of migrant return centres to be located outside the EU, amid a broader tightening of the bloc’s migration policy, Agerpres reported. The request follows decisions taken by...
The minister of economy, Radu Miruţă, announced that the Agency for Monitoring and Evaluation of Public Enterprises' Performance (AMEPIP) fined him, as a natural person, for "wanting a clean and fair management at a state-owned company" - Avioane Craiova. The fine is apparently linked to comments made by minister Miruţă about the management teams appointed […]
