Romania recorded the second lowest inflation rate among the 28 EU member states, with a rate of minus 1.5%, down from -0.7% in December 2015.

It was surpassed by Poland, which had an annual inflation rate of -1.7% in January, according to EU’s statistical office Eurostat.

In the European Union, the average annual inflation rate was 0.2% in January.

Romania had an inflation of 170% in 1991, said the central bank governor Mugur Isarescu, who has been leading Romania’s National Bank in the last 25 years. The country’s currency reserves have increased from USD 54 million to USD 35 billion in 25 years.

editor@romania-insider.com