The annual inflation rate in the European Union rose to 2.7% in May, from 2.6% in April, while Romania is, for the fifth month in a row, the country with the highest inflation in the EU bloc, shows the data published on Tuesday by the European Statistical Office (Eurostat). In May, the EU member states with the lowest annual inflation rates were Lithuania (0%), Finland (0.4%) and Italy (0.8%). At the opposite pole, the EU member countries with the highest inflation rates were Romania (5.8%), Belgium (4.9%) and Croatia (4.3%). Compared to April 2024, the annual inflation rate decreased in 17 member states, including Romania, from 6.2% to 5.8%, remained stable in two countries and increased in 14 member states. In the euro zone, the annual inflation rate stood at 2.6% in May, up from 2.4% in April. Eurostat data show that core inflation, i.e. what remains after the prices for volatile goods such as energy and food are removed, rose to 2.9% in May, from 2.8% in April. Another indicator that, in addition to energy and food prices, also excludes cigarette and alcohol prices, rose to 2.9% in May, from 2.7% in April. 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) previously informed that the annual inflation rate dropped, in May 2024, to 5.12%, from 5.9% in April, under conditions in which food commodities they increased in price by 1.24%, non-food by 6.38%, and services by 9.29%.
The government approved on December 17 an emergency ordinance by which the Ministry of Finance allocates almost RON 2.5 billion (nearly EUR 500 million), intended for the payment of arrears of the Ministry of Development (MDLPA) and the continuation of public investments. This comes on top of RON 1.35 billion allocated to the Ministry of […]
It’s the last weekend before Christmas and another chance to search for presents or enjoy the season’s music.
The government adopted an emergency ordinance on December 17 requiring all local authorities to approve, by December 31, the local taxes and fees that will apply in 2026, effectively forcing city halls to implement substantial property tax increases in line with guidelines already legislated, Ziarul Financiar...
In a meeting on Wednesday, December 17, the leaders of Romania's four-party ruling coalition agreed on the last bills to be included in the second package of budgetary measures – primarily the public administration law, but also the minimum tax on turnover, the minimum wage, and the reduction of some other public expenditures. The parties […]
Metinvest announced on Wednesday, December 17, that it completed the acquisition of ArcelorMittal Tubular Products Iași, in eastern Romania. The plant produces welded structural pipes for the construction, engineering, infrastructure, and agricultural sectors, with a maximum annual production capacity of 240,000 tonnes. The plant is Metinvest’s first production site in Romania. Negotiations on its acquisition […]
Romanian president Nicușor Dan was received by King Charles III at Buckingham Palace on Wednesday, December 17, during his official visit to the United Kingdom, marking the final stage of his trip to London. The head of state also met with Romanians who welcomed him during the visit. President Dan posted a brief message alongside […]
