Romania’s annual inflation rate in October dropped to 4.3 percent, from 5.03 percent in September, taking into account that non-food goods prices rose by 5.27 percent, those of food products increased 3.73 percent, whereas prices of services recorded an advance of 2.73 percent, according to the data published on Monday by the National Institute of Statistics (INS). This year, the highest annual inflation rate was recorded in May, 5.41 percent respectively, the highest level since February 2013, when the increase of consumer prices reached 5.65 percent. “In October 2018 compare to October 2017, the consumer prices increased by 4.3 percent. The annual rate based on the Harmonized Index of Consumer Prices (HICP) is 4.2 percent. The average inflation rate over the last 12 months (November 2017 – October 2018) compared to the previous 12 months (November 2016 – October 2017), based on the CPI, is 4.6 percent. Based on the HICP, the average rate is 4.00 percent,” a press release of the INS sent to AGERPRES informs. Compared to September 2018, the consumer prices increased by 0.52 percent, with prices of food products increasing by 0.61 percent, while those of non-food goods went up 0.52 percent and services prices advanced 0.35 percent. The average monthly inflation rate in the first nine months of this year was 0.3 percent compared to 0.2 percent in 2017. The National Bank of Romania (BNR) maintained the inflation forecast for the end of this year at 3.5 percent and revised upwards the forecast for the next year, namely to 2.9 percent, from 2.7 percent. Moreover, The National Prognosis Commission (CNP) maintained to 3.5 percent its projection regarding the consumer price index for the end of the current year, but also for next year, ie 2.8 percent in 2019. In the latest “World Economic Outlook” report, the International Monetary Fund maintained its estimations regarding the consumer prices to an average annual growth of 4.7 percent, but revised them downwards for 2019, when the increase rate would slow down to 2.7 percent compared to an increase of 3.1 percent as forecast in the spring. However, the European Commission, in its autumn forecast, revised slightly upwards the inflation forecast for 2018 to 4.3, compared to 4.2 percent as it had forecast in the spring, with the consumer price index declining to 3.5 percent in 2019 and 3.3 percent in 2020, following the decline in the domestic request. For the eighth consecutive month, Romania recorded in September the highest annual inflation rate among the EU member states, with an increase in consumer prices of 4.7 percent, similar to the one registered in August, the data published on 17 October by the European Statistical Office (Eurostat) showed.
The post Romania’s annual inflation rate down to 4.3pct in October appeared first on Nine O' Clock.
If you’re a retiree from the United States or Canada looking for a place to spend your golden years, it’s time to turn your attention to an unexpected European gem: Romania. Often overlooked in favor of more well-known destinations like Spain or Portugal, Romania is quickly rising as the next big hub for U.S. retirees […]
Romanian digital solutions provider Life is Hard, in collaboration with Cloud Soft, Nordlogic Software, and EfectRO, recently signed a new contract with Cluj County Council to develop the Single Desk - Ghiseul Unic application. The contract is valued at RON 4 million (EUR 800,000) and will span three years. Its aim is to further the […]
In a global context marked by economic interdependence and complexity, the EURO-GCC Economic Initiative is establishing itself as a strategic collaboration platform between European countries, including Romania, and the member states of the Gulf Cooperation Council (GCC). Launched in support of companies from both regions, the initiative aims to maximize business and investment potential through the development […]
A major sheep breeder in Romania and the president of the “Dacia” Sheep Breeders Association, Dumitru Andreșoi, has been placed in detention for 30 days in a case led by the European Public Prosecutor’s Office (EPPO) for illegally obtained EU subsidies. Prosecutors say that Andreșoi “set up a criminal scheme to obtain EU subsidies for […]
A campaign to promote the pro-Russian candidate Alexandr Stoianoglo, currently running for the presidency of the Republic of Moldova, has started in Romania on TikTok through several well-known influencers and manele singers. The videos in question follow a similar format and started being posted earlier this week by influencers with over a million followers on […]
Romanian software development company OVES Enterprise said it is exploring a potential strategic partnership with Kongsberg Defence & Aerospace (KDA), one of the international leaders in defence solutions, aiming to integrate its Nemesis AI solution into the defence solutions developed by Kongsberg. OVES Enterprise hosted this week a delegation from KDA, Norway’s primary provider of […]
