RRI Live!

Listen to Radio Romania International Live

Romania, slight drop in inflation

The annual inflation rate stood at 7.2% in Romania.

Romanians dig deeper in their pockets to buy food (Credits: pixabay.com)
Romanians dig deeper in their pockets to buy food (Credits: pixabay.com)

, 14.03.2024, 14:00

The annual inflation rate in Romania dropped slightly, from 7.4% in January, to 7.2% in February, the National Statistics Institute reports. This means prices won’t be going up just as fast, although they will remain high compared to people’s purchasing power, economic experts say. According to statistics, Romania reports the highest inflation rate at EU level, where the average stands close to 3%. In Czechia, for instance, the inflation rate dropped below 3% in February, while in Hungary it stood at 3.7%. As of next month, Poland will lift the 0 VAT rate on food amidst an unexpected drop in inflation. In Romania, food prices remain high, while prices for services are on the rise. In February, prices for non-food products reported the highest increase on average, followed by prices for services and food. Major price hikes were also reported in February for potatoes – once the cheapest vegetable – 4.9%.

 

 

Other fresh and canned vegetables reported price increase by 3.4% on average. Other price hikes were reported for fresh fruit – approximately 4.7%, detergents – 3% and prices for car subscriptions – 2.6%. Waterworks, sewerage and waste collection prices also went up by 2%. The most significant drop in prices was reported for airline tickets – 17%. Butter was also 9% cheaper compared to January. In the last 12 months, the highest price hikes were reported for postal services, which went up by 26.6% on average, and detergents – nearly 24%, followed by waterworks, sewerage, waste collection services as well as personal hygiene, cosmetics and medical products. We recall that the inflation rate stood at 6.6% at the end of 2023. As estimated by the National Bank of Romania, the inflation rate went up in January 2024 to 7.4%, and is expected to enter a downward trend of the course of this year. The increase was determined by the increase and introduction of indirect taxes with a view to consolidating the state budget. The subsequent drop in inflation could be determined by the downgrade in stock market prices for agrifood products and crude oil, but also by the fluctuation of import prices. The Central Bank expects the inflation rate to level out at 4.7% at the end of the year and to stand at 3.5% at the end of 2025. (VP)

Photo: pixabay.com
Today in the News Thursday, 24 April 2025

A new law on the magistrates’ pensions

There are several occupational categories in Romania whose employees are usually retiring under the age of 50 and whose pensions aren’t exclusively...

A new law on the magistrates’ pensions
Foto: Mediamodifier / pixabay.com
Today in the News Thursday, 24 April 2025

Downward forecast revision from the World Bank

According to its latest report, the World Bank expects growth in developing economies in Europe and Central Asia to slow down to 2.5% in 2025-2026...

Downward forecast revision from the World Bank
Photo: Septimiu / pixabay.com
Today in the News Wednesday, 23 April 2025

From budget deficit to governmental debt

  The Romanian finance ministry reiterates Romania’s commitment to meet the 7% of GDP deficit target at the end of the year, and promises...

From budget deficit to governmental debt
Ambasadorul Germaniei la București, Peer Gebauer, alături de ministrul de Externe, Emil Hurezeanu / Foto: MAE.ro
Today in the News Wednesday, 23 April 2025

Romanian – German Friendship Day

A year ago, former Romanian President Klaus Iohannis, himself an ethnic German from Transylvania, promulgated the Law establishing April 21 as...

Romanian – German Friendship Day
Today in the News Tuesday, 22 April 2025

Romania reacts to the Pope’s Death

Pope Francis passed away on Monday, the second day of Easter, after 12 years of pontificate, and the emotion caused by his disappearance crossed the...

Romania reacts to the Pope’s Death
Today in the News Thursday, 17 April 2025

Christians before Easter

The Orthodox Christians in Romania are preparing to celebrate Easter – the feast of light and joy, considered the greatest celebration of...

Christians before Easter
Today in the News Wednesday, 16 April 2025

Strategic partnership reaffirmed

  With a new administration led by the Republican Donald Trump that excels in unexpected moves, the United States has in Congress an institution...

Strategic partnership reaffirmed
Today in the News Wednesday, 16 April 2025

NATO continues to support Ukraine

NATO’s Secretary General visited Ukraine and the Republic of Moldova.   NATO Secretary General Mark Rutte on Tuesday made a surprise visit...

NATO continues to support Ukraine

Partners

Muzeul Național al Țăranului Român Muzeul Național al Țăranului Român
Liga Studentilor Romani din Strainatate - LSRS Liga Studentilor Romani din Strainatate - LSRS
Modernism | The Leading Romanian Art Magazine Online Modernism | The Leading Romanian Art Magazine Online
Institului European din România Institului European din România
Institutul Francez din România – Bucureşti Institutul Francez din România – Bucureşti
Muzeul Național de Artă al României Muzeul Național de Artă al României
Le petit Journal Le petit Journal
Radio Prague International Radio Prague International
Muzeul Național de Istorie a României Muzeul Național de Istorie a României
ARCUB ARCUB
Radio Canada International Radio Canada International
Muzeul Național al Satului „Dimitrie Gusti” Muzeul Național al Satului „Dimitrie Gusti”
SWI swissinfo.ch SWI swissinfo.ch
UBB Radio ONLINE UBB Radio ONLINE
Strona główna - English Section - polskieradio.pl Strona główna - English Section - polskieradio.pl
creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti
italradio italradio
Institutul Confucius Institutul Confucius
BUCPRESS - știri din Cernăuți BUCPRESS - știri din Cernăuți

Affiliates

Euranet Plus Euranet Plus
AIB | the trade association for international broadcasters AIB | the trade association for international broadcasters
Digital Radio Mondiale Digital Radio Mondiale
News and current affairs from Germany and around the world News and current affairs from Germany and around the world
Comunità radiotelevisiva italofona Comunità radiotelevisiva italofona

Providers

RADIOCOM RADIOCOM
Zeno Media - The Everything Audio Company Zeno Media - The Everything Audio Company