Romania had the highest annual inflation rate in the EU in October this year, of 7.9 percent, while the average in the EU was of 2.3 percent, and in the Euro zone, of 1.9 percent. The lowest level of inflation was recorded in Ireland, with minus 0.8 percent, Letonia, with 0.9 percent, Slovakia, with 1 percent. 15 EU member states saw their inflation up in October- Romania included.

Romania ranks first in the EU when it comes to the average growth of prices over the last 12 months, with an increase of 5.5 percent, followed by Hungary, with 4.9 percent and Greece, 4.3 percent.  The Romanian Central Bank (BNR) has recently upped the inflation forecast for this year to 8.2 percent. It was for the second time when BNR had increased the inflation forecast this year, initially from 3.7 to 7.8, after the increase in VAT during the summer.

editor@romania-insider.com