Romania’s annual inflation nears double digits in August on energy prices and VAT hike
Romania’s annual inflation rate accelerated sharply to 9.85% in August, driven by soaring electricity tariffs and higher VAT, the National Institute of Statistics (INS) said in the report released on Thursday, September 11. The figure…
Irina Marica · Journalist
· Updated · 2 min read
Romania’s annual inflation rate accelerated sharply to 9.85% in August, driven by soaring electricity tariffs and higher VAT, the National Institute of Statistics (INS) said in the report released on Thursday, September 11. The figure marks a significant jump from July’s 7.8% rate, with non-food goods recording the steepest increase at 10.48%.
Electricity prices surged by 65.73% year-on-year after the government ended the price cap scheme as of July 1 and the standard VAT rate was raised to 21% on August 1.
