In the first two months of 2018, the Romanians spent almost RON 28 billion in stores and gas stations, of which RON 11 billion was spent on food, beverages and tobacco, according to the figures provided to hotnews.ro by the National Statistics Institute (INS).
More than RON 3 billion was spent in January and February on perfumes, cosmetics and in pharmacies and over RON 6 billion on fuels. The private consumption contributed by 70% to the economic production, measured through the Gross Domestic Product.
The months with the highest consumer spending are August (during holidays) and December.
The INS figures reveal the increase in household revenues by 4.2% quarter on quarter and 15.7% year on year to RON 3,569 in Q4 2017. The expenditures went up by a quarterly rate of 6.1% (and 13.7% y / y) to RON 3,061. The savings rate dropped to 14.2% (the lowest since Q4 2016), showing the premises of deceleration for short-term consumption.