Get real time updates directly on you device, subscribe now.
Inflation will drop to a level of 7% by the end of the year, and to 4.2% in 2024, announced Wednesday the governor of the National Bank of Romania, Mugur Isărescu. This does not mean that prices are falling, just that they will rise more slowly.
The new forecast is much better than in December 2022, when the institution estimated inflation of 11.2% for the end of this year. The extension of the capping and compensation scheme for gas and electricity contributed to this development.
“The annual inflation rate calculated on the basis of the consumer price index in Romania is significantly revised down until the 3rd quarter of 2024, in August, as a result of the inclusion in the analysis of the parameters of the new price ceiling scheme at energy and gas, but also of the tempering effect of excess demand and accommodation to the new conditions through monetary and fiscal policy measures. Next year, an inflation of 4.2% I say is off target, but it is reasonable if we look to the geopolitical context. We have many components that we don’t control, we don’t know how the war in Ukraine will evolve, how energy prices will evolve,” said Mugur Isărescu, BNR governor.
DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRLUniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002