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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Food prices to rise by 10%-12% in Romania over next several months - forecast

The food prices in Romania will increase by 10%-12% in the coming months, as a result of higher energy prices and higher import prices, according to estimates of the president of the National Federation of Trade Unions in the Food Industry Sindalimenta, Dragoş Frumosu, Economica.net reported. Higher energy prices will generate a 6-7pp increase alone.

As of July 2021, the food prices were up 2.3% year-on-year, less than half the headline consumer price inflation (5% YoY). Nevertheless, the average prices of the energy inputs soared by over 30% as of July (Frumosu speaks of a 100% rise in energy prices faced by the food processors), generating significant inflationary pressures.

Separately, the global food price index compiled by the UN's Food and Agriculture Organisation (FAO) surged by nearly 30% YoY as of August.

Romania imports some 25% of the milk it needs, 70% of the pork and significant beef - Sindalimenta head Dragos Frumosu explained, implying that higher global prices will quickly be imported as well.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Food prices to rise by 10%-12% in Romania over next several months - forecast

The food prices in Romania will increase by 10%-12% in the coming months, as a result of higher energy prices and higher import prices, according to estimates of the president of the National Federation of Trade Unions in the Food Industry Sindalimenta, Dragoş Frumosu, Economica.net reported. Higher energy prices will generate a 6-7pp increase alone.

As of July 2021, the food prices were up 2.3% year-on-year, less than half the headline consumer price inflation (5% YoY). Nevertheless, the average prices of the energy inputs soared by over 30% as of July (Frumosu speaks of a 100% rise in energy prices faced by the food processors), generating significant inflationary pressures.

Separately, the global food price index compiled by the UN's Food and Agriculture Organisation (FAO) surged by nearly 30% YoY as of August.

Romania imports some 25% of the milk it needs, 70% of the pork and significant beef - Sindalimenta head Dragos Frumosu explained, implying that higher global prices will quickly be imported as well.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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