\nThe
\ninflation rate is going up in Romania amid the rising cost of food,
\nfuel, natural gas and electricity and in the context of the Russian
\nmilitary aggression in Ukraine. In its latest forecast published on
\nThursday, the National Bank revised its inflation rate forecast up to
\n12.5% for the end of the year, with a 6.7% level estimated for the
\nend of next year. These levels are 3.5% higher than the previous
\nforecast. The central bank estimates that the inflation rate may peak
\nin July and remain high all year. In the medium run, inflationary
\npressures are expected to diminish gradually. These estimates are
\nbased on the dramatic rise in production costs driven by the Russian
\ninvasion of Ukraine. The National Bank of Romania says the future
\ndevelopments of the energy and health crisis further add to the
\nuncertainty.
\n<\/p>\n
<\/p>\n
<\/p>\n
\nOn
\nWednesday, the National Institute for Statistics said the annual
\ninflation rate hit 13.7% in April, with prices going up by this much
\ncompared with April 2021. The price of natural gas, which almost
\ndoubled, saw the highest rise. The governor of the National Bank of
\nRomania Mugur Is\u0103rescu
\nsays this trend is not likely to improve anytime soon and recalled
\nthat prices began to go up last summer. He said, however, that
\nRomania’s economy is not in recession and may even see a growth of
\n2% this year.<\/p>\n
<\/p>\n
\n
\n
\n
\n<\/p>\n
<\/p>\n
\nPresident
\nKlaus Iohannis is also expecting the economic situation to remain
\ndifficult, even after the end of the conflict in Ukraine, which he
\nviews as the main cause for these negative developments:<\/p>\n
<\/p>\n
\n
\n
\n
\n<\/p>\n
<\/p>\n
\nThese
\nthings and the crises that will follow, because experts are telling
\nus that the problems will persist, problems
\nwith the energy, will affect the entire world, not only Romania. All
\nthis has one cause and that’s Putin’s war against Ukraine. The
\nRomanian government can only soften the impact of these crises and
\nhelp vulnerable consumers, people with low incomes, but the problem
\nis not restricted to Romania, it is global. In the US, for example,
\nthe inflation rate is nearing 10%. The inflation rate is also high in
\nother countries in Europe. The problem is caused by the war, and we
\nshould harbour no illusions, even if the war ends tomorrow, the
\ncrises will not end tomorrow, they will continue. Some complicated
\ntimes are in store and we should be aware of this.<\/p>\n
<\/p>\n
\n
\n
\n
\n<\/p>\n
<\/p>\n
\nPresident
\nKlaus Iohannis also said that the inflation rate is only one factor
\nand expressed confidence that the government has taken and will
\ncontinue to take the necessary measures. (CM)<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
The inflation rate to stay at high level all year, says the National Bank of Romania.<\/p>\n","protected":false},"author":46,"featured_media":92240,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[29488],"coauthors":[],"class_list":["post-92239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-inflation"],"acf":[],"yoast_head":"\n