Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romania’s inflation leaps up 1pp to 6.3% YoY in September

Romania’s consumer prices advanced by another 0.84% in September, and the annual inflation accelerated to 6.3% YoY from 5.3% YoY in August. Consensus independent expectations converge toward year-end inflation of over 7%.

Just over half of the annual inflation (3.2pp) was caused by the rise in the price of fuels (+17% YoY), electricity (+25% YoY) and natural gas (+21% YoY).

A significant inflationary impact was made by the tobacco goods, specifically by the rise of the excise tax for tobacco that pushed up the end-user prices by 7.1% YoY - enough to result in a 0.47pp contribution to the overall 6.3% annual inflation.

Romanians dedicate on average 6.6% of their budget to tobacco (80% of which goes to the state budget as excises and taxes), slightly more than they spend on fruits and vegetables (5.5%).

The food prices edged up by only 4.3% YoY, according to the statistics office data - challenged, however, by Ziarul Financiar daily that carried out investigations related to the methodology used by authorities in collecting the consumer prices for food items. Based on an arbitrary basket of goods, ZF concluded an 8%-10% rise in food prices from September to October. 

iulian@romania-insider.com

(Photo source: Bizroug/Dreamstime.com)

Normal
Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romania’s inflation leaps up 1pp to 6.3% YoY in September

Romania’s consumer prices advanced by another 0.84% in September, and the annual inflation accelerated to 6.3% YoY from 5.3% YoY in August. Consensus independent expectations converge toward year-end inflation of over 7%.

Just over half of the annual inflation (3.2pp) was caused by the rise in the price of fuels (+17% YoY), electricity (+25% YoY) and natural gas (+21% YoY).

A significant inflationary impact was made by the tobacco goods, specifically by the rise of the excise tax for tobacco that pushed up the end-user prices by 7.1% YoY - enough to result in a 0.47pp contribution to the overall 6.3% annual inflation.

Romanians dedicate on average 6.6% of their budget to tobacco (80% of which goes to the state budget as excises and taxes), slightly more than they spend on fruits and vegetables (5.5%).

The food prices edged up by only 4.3% YoY, according to the statistics office data - challenged, however, by Ziarul Financiar daily that carried out investigations related to the methodology used by authorities in collecting the consumer prices for food items. Based on an arbitrary basket of goods, ZF concluded an 8%-10% rise in food prices from September to October. 

iulian@romania-insider.com

(Photo source: Bizroug/Dreamstime.com)

Normal
 

facebooktwitterlinkedin

1

Romania Insider Free Newsletters