RRI Live!

Listen to Radio Romania International Live

Is inflation going to slow down?

The President of the Competition Council, Bogdan Chiritoiu, has stated that the current increase in prices in Romania is just a momentary situation

Is inflation going to slow down?
Is inflation going to slow down?

, 15.12.2021, 13:50

Natural gas and edible oil have become the most expensive in Romania in the past year, while the only drop has been registered in the prices of air transport services – according to data published by the National Institute of Statistics on the first day of this week. Prices for natural gas rose by almost 50%, for edible oil by more than 28 % and for fuels by more than 25%. Potatoes, one of the staple foods especially for people with low material means, have also become more expensive by more than 22%. The National Institute of Statistics also announced that electricity prices have risen by more than 8%.

Romanians have also had to pay more for water, sewer, sanitation and postal services. Overall, the annual inflation rate fell to 7.8% in November from 7.9% in October. Eurostat experts pointed out in autumn that Romania was among the countries in the European Union with the highest inflation, the only consolation being, perhaps, that there were another three states holding the position of leaders in that respect. According to the latest inflation report drawn up by the National Bank of Romania, the annual inflation rate is estimated at 7.5% in December and is expected to go down to 5.9% only at the end of next year.

The current rise in prices is a momentary phenomenon, caused by the fact that inflation fell in the first year of the pandemic, when the economy did not work, and now, when it is restarting, there is a lot of money in the market, according to the President of the Competition Council, Bogdan Chiritoiu. He estimates that natural gas prices, for example, will return to pre-pandemic levels. On the other hand, the reduction in energy prices will not be so big, given the consequences of the transition to green energy.

Bogdan Chiriţoiu: I see no point in either capping prices in the medium term or surcharging. All it takes is one-off interventions in some markets. I agreed with the energy surcharge, for example. When there is a problem in a particular market and when it comes to aid, that must be targeted at people who are more vulnerable. If we stick to our old system, where we want to take money from everyone and give money to everyone, it’s a very inefficient system, it doesn’t make sense.

In the meantime, all Romanians feel the prices increases every month. (MI)

Marcel Ciolacu (Photo: gov.ro)
Today in the News Friday, 21 February 2025

Restructuring in state institutions

The biggest cut in operating expenses in the history of the Government is starting, Prime Minister Marcel Ciolacu announced in Bucharest. In the...

Restructuring in state institutions
Photo: andreas160578 / pixabay.com
Today in the News Friday, 21 February 2025

Discussions regarding the Car Scrapping (Rabla) program

The Car Scrapping (Rabla) programs were implemented by the Environment Ministry to renew the car fleet in Romania, by gradually replacing old,...

Discussions regarding the Car Scrapping (Rabla) program
Romania at the Paris summit (photo presidency ro)
Today in the News Thursday, 20 February 2025

Romania at the Paris consultations

  The security of Europe was the topic of a second meeting organised on Wednesday in Paris by the French president Emmanuel Macron, after the...

Romania at the Paris consultations
Parliament of Romania (Photo: gov.ro)
Today in the News Thursday, 20 February 2025

Security decisions in Romania’s Parliament

  The Chamber of Deputies in Bucharest, as the first party to be notified, endorsed a draft law that allows drones that illegally enter Romanian...

Security decisions in Romania’s Parliament
Today in the News Wednesday, 19 February 2025

Romania will keep to its Euroatlantic path

Romania’s foreign policy will maintain its natural course, as a member of the European Union and NATO, having a Strategic Partnership with the...

Romania will keep to its Euroatlantic path
Today in the News Wednesday, 19 February 2025

National Day Constantin Brancusi

In 2015 Romanian Parliament endorsed a law declaring February 19th the National Day Constantin Brancusi – which is a national holiday, to pay...

National Day Constantin Brancusi
Today in the News Tuesday, 18 February 2025

Central Bank Report on Inflation

The National Bank of Romania has increased its inflation forecast for the end of this year to 3.8%, from 3.5% previously, according to the...

Central Bank Report on Inflation
Today in the News Tuesday, 18 February 2025

Europeans are closing ranks

In a few days, it will be three years since Moscow’s invasion of Ukraine. Three years after which it’s difficult, if not impossible, to...

Europeans are closing ranks

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