The annual inflation rate in the European Union decreased in August to 2.4%, from a level of 2.8% in July, and Romania is, for the sixth month in a row, the country with the highest inflation in the bloc community, with an annual price advance of 5.3%, according to the data published on Wednesday by Eurostat. In August, the EU member states with the lowest annual inflation rates were Lithuania (0.8%) and Latvia (0.9%). At the opposite pole, the EU member countries with the highest inflation rates were Romania (5.3%), Belgium (4.3%) and Poland (4%). Compared to the data from July 2024, the annual inflation rate decreased in 20 member states, including Romania from 5.8% to 5.3%, remained stable in one country and increased in six states members. In the euro area, the annual inflation rate decreased from 2.6% in July to 2.2% in August. However, Eurostat data shows that core inflation, i.e. what remains after prices for volatile goods such as energy and food are removed, remained stable at 2.8%. Another indicator that, in addition to energy and food prices, also excludes cigarette and alcohol prices, decreased slightly, from 2.9% to 2.8%. Core inflation is the indicator closely followed by the ECB when elaborating its monetary policy decisions. In the case of Romania, the National Institute of Statistics (INS) reported last week that the annual inflation rate dropped, in August, to 5.1%, from 5.42% in July, as food commodities they increased in price by 4.25%, non-food by 4.35%, and services by 8.60%. The harmonized consumer price index in August 2024 compared to July 2024 was 100.28%. The annual inflation rate in August 2024 compared to August 2023 calculated on the basis of the Harmonized Index of Consumer Prices (HICP) was 5.3%. The average rate of change in consumer prices in the last 12 months (September 2023 – August 2024) compared to the previous 12 months (September 2022 – August 2023) determined on the basis of the HIPC was 6.7%. The National Bank of Romania (BNR) revised down the inflation forecast for the end of 2024 to 4%, from 4.9% previously, and anticipates that it will reach 3.4% at the end of 2025, according to the data presented in August by the governor of the BNR, Mugur Isarescu.
The Nexus Gaming team, which represented Romania at the IESF World Esports Championship, defeated Portugal’s team in the final to become world Counter Strike 2 champions. The Romanian team is composed of experienced players Ciocardau, Xellow, BTN, Ragga, and Adron. During the IESF WEC24 championship, they defeated some of the strongest teams, many of which […]
Well-known American actor John Malkovich, who was on stage last week at the National Theatre in Timișoara, visited the city’s first official souvenir shop on Friday, November 15. The visit was announced by Timișoara mayor Dominic Fritz. "Even Hollywood has come to the new souvenir shop. We’re delighted that John Malkovich found high-quality mementos from […]
The CONFIDEX H2 2024 study shows a relatively stable year without major events that could significantly impact Romania’s economy, but leaves room for growing concern regarding the future. According to the study, supported by private equity funds ROCA, AGISTA, and CITR, the leader in Romania’s insolvency and restructuring market, only 29% of managers report optimism […]
Romanian president Klaus Iohannis was on a visit to Berlin from November 15 to 18 to signal the strong ties between Romania and Germany with a speech in the German Bundestag. He also met German chancellor Olaf Scholz and president Frank-Walter Steinmeier. During his speech, the Romanian president said that the friendship between the two […]
In a rapidly digitalizing world, companies face numerous challenges in managing documents and data efficiently. Andrei Negulescu, Strategic Digitalisation Manager at Matricia Solutions, shares unique insights into how his firm helps businesses navigate the complex journey of digital transformation. In today’s world, every business talks about digital transformation, but few know how to make it […]
The Bucharest National Airports Company, which operates the two main airports of the capital, wants to purchase 450 benches for passengers in the boarding gate area of the Henri Coandă International Airport, better known as the Otopeni Airport. According to the announcement, CNAB will purchase 250 three-seat benches and 200 four-seat benches. The contract is […]
