The annual rate of inflation in the European Union dropped in November down to 11.1% from 11.5% in October, but in eight member states the index for consumption prices increased every month, including in Romania, from 13.5% to 14.6%, show the data published on Friday by Eurostat.In November, the EU member states with the highest rates of inflation were Hungary (23.1%), Latvia (21.7%), Estonia and Lithuania (both 21.4%). At the other end, the EU member states with the lowest annual rates of inflation in November were Spain (6.7%), France (7.1%) and Malta (7.2%).As compared to October, the annual rate of inflation dropped in 16 member states, stable in three countries and grew in eight member states, including in Romania, from 13.5% to 14.6%. Not fewer than 18 EU member states among which Romania as well, registered in September an annual rate of inflation higher than 10%.In the euro zone, the annual rate of inflation dropped from 10.6% in October, down to 10.1% in November. It is for the first time over the last 17 months when the inflation in the euro zone dropped, but even so it continues to remain a two digit figure in the area. For the states in the euro zone, the most significant impact on the annual growth of prices came from energy, where there was growth of 3.82 percentage points, followed by prices for food, alcohol drinks and cigarettes, which grew by 2.84 percentage points and prices for services which registered an advance of 1.76 percentage points.In the case of Romania, the National Institute for Statistics (INS) informed previously that the annual rate of inflation went up to 16.8% in November 2022 from 15.32% in October, due to the increase in prices of food by 21.55%, non-food by 16.17% and services by 9.51%. In November, consumption prices grew by 1.3% as compared to the previous month, as food was more expensive by 1.54%, the non-food by 1.03% and services by 1.31%.The harmonised indicator of consumption prices (IAPC) indicator for determining inflation a the level of EU member states, in November 2022 compared to October 2022 is 101.24%. The annual rate of inflation in November 2022 as compared to November 2021 calculated on the basis of the harmonized indicator of consumption prices (IAPC) is 14.6%. The average rate of consumption prices change over the last 12 months (December 2021 – November 2022) against the previous 12 months (December 2020 – November 2021) determined on the basis of IAPC is 11.4%.The National Bank of Romania (BNR) increased at 16.3% the inflation estimate for the end of this year and estimates inflation of 11.2% for the end of next year, according to the data presented in November by the BNR governor, Mugur Isarescu.
Romania has reached a purchasing power per capita of EUR 11,105, approximately 45% below the European average – a figure that places the country in 31st place in the European top, according to the "NIQ Purchasing Power Europe 2025" study. Compared to 2024, Romania moved up one position in the NIQ ranking. Comparatively, at a […]
Ionuț Costea, former head of EximBank, and Sebastian Vlădescu, former finance minister, were released on November 5 following an extraordinary prescription procedure, according to a statement from Romania's High Court of Cassation and Justice (ICCJ). The two had been sentenced in 2023 to six and seven years in prison, respectively, for taking a EUR 5.5 […]
Prime minister Ilie Bolojan, who also serves as president of the Liberal Party (PNL), stated on November 4 that, at the meeting of the party's National Political Bureau the same day, support was renewed for resolving the issue related to special (magistrates') pensions this month, but also for the reform in public administration, according to
Knauf Insulation Romania, the local subsidiary of a division of the German group Knauf, has officially inaugurated its new glass mineral wool factory in Târnăveni, Mureș County, after an investment of EUR 140 million, for which the company also received EUR 18 million in state aid. "Our factory in Târnăveni, equipped with state-of-the-art technology, has […]
Corden BioChem, an expert in industrial biotechnology, could resume production at the bioethanol factory it took over from Swiss Clariant in southern Romania (or "Lesser Wallachia" as indicated by the company) at Podari, after the Competition Council authorised the takeover of the steam and electricity supplier. The company announced on its website that the Podari […]
Romania’s general government budget deficit can drop below 6.5% of GDP next year, possibly approaching 6% of GDP, to further drop below 5% of GDP if the tax evasion and tax avoidance are addressed, the head of the Fiscal Council, Daniel Daianu, said, speaking in a conference organised by Curs de Guvernare, as reported by […]
