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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. 

 

Industrial prices up 14% YoY in Romania as of July

The industrial prices (factory-gate prices) index in Romania increased by nearly 14% year-on-year as of July, after a 2.3% monthly leap.

In the energy sector, the industrial prices soared by 31% YoY after another major advance seen in July (+6.6%), announced the statistics office INS.

The prices of the intermediary goods increased by only 1.8% in July but compared to a year ago, they are 17.3% larger - three times more the advance of the prices of the durable and non-durable consumer goods (+5%-6% YoY).

The big picture suggests that the higher energy prices have not yet passed through to the consumer prices, and therefore further supply-side inflationary pressures are expected.

The consumer price inflation neared 5% YoY as of July, up from under 4% as of June.

Rising energy prices, as well as other factors, will cause food prices to increase by 10-12% on average in the coming months, but some products, such as pork, dairy and bread, will see higher price increases compared to the average, said the president of the National Federation of Trade Unions in the Food Industry Sindalimenta, Dragoş Frumosu, according to Economica.net.

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. 

 

Industrial prices up 14% YoY in Romania as of July

The industrial prices (factory-gate prices) index in Romania increased by nearly 14% year-on-year as of July, after a 2.3% monthly leap.

In the energy sector, the industrial prices soared by 31% YoY after another major advance seen in July (+6.6%), announced the statistics office INS.

The prices of the intermediary goods increased by only 1.8% in July but compared to a year ago, they are 17.3% larger - three times more the advance of the prices of the durable and non-durable consumer goods (+5%-6% YoY).

The big picture suggests that the higher energy prices have not yet passed through to the consumer prices, and therefore further supply-side inflationary pressures are expected.

The consumer price inflation neared 5% YoY as of July, up from under 4% as of June.

Rising energy prices, as well as other factors, will cause food prices to increase by 10-12% on average in the coming months, but some products, such as pork, dairy and bread, will see higher price increases compared to the average, said the president of the National Federation of Trade Unions in the Food Industry Sindalimenta, Dragoş Frumosu, according to Economica.net.

andrei@romania-insider.com

(Photo source: Dreamstime.com)

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