Wednesday, June 17, 2009

Romania's Inflation Highest in EU

Inflation in Romania in May 2009 hit 5.9%, the highest rate among EU member states, according to Eurostat, the Statistical Office of the European Communities.

The average inflation rate in the EU was around 0.7%.

Recently, the European Commission's forecast for Romania predicted an average inflation of 5.8% in 2009. Inflation rates for 2010 are expected to decrease following slow wage growth and low international commodity prices.

Romania’s inflation figure in 2008 stood at 6.3%.

Curbing inflation is a key requirement for Romania if it is to switch its currency to the Euro, a goal the government has set for 2014.

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