Fuel price 
Romania’s annual inflation rate fell to 7.93% in June
Romanian consumer prices fell 0.29% in June from a month earlier, pushed down by cheaper food items, while the annual inflation eased to an unexpected 7.93%, from 8,41% in May, the country’s statistics institute INS said Monday. Is the first time in two years when Romania has deflation. The latest drop in consumer prices was in August 2009, when the products were cheaper by about 0.2%. According to INS, in the summer months there is a tendency of deceleration of inflation or even falling prices, given that the start time of harvest. In June, food prices fell by 1.3% mainly due to cheaper potatoes (-2%). Cheaper food was offset largely by increased prices for services, which grew by 0.7%. Some of the services whose prices boosted were air transport (+2%) and telephone (+2%). Non-food prices rose by 0.2% in June. Since the beginning of this year, consumer prices rose by 2.75%. citeste mai mult
Romania Annual Inflation Reaches 31-Month High In March
The annual inflation rate rose in March to 8.01% from 7.6% in February, and exceeded analysts' estimates polled by "Fin.ro", who anticipated that inflation will stand between 7.7% -8%. Inflation rate in March reached its highest level since August 2008, when the indicator stood at 8.02%. Monthly inflation rate stood at 0.6%, between 0.3% -0.66% expected by analysts surveyed by "Fin.ro". Monthly increase in consumer price index was due to higher prices of food products (+1.17%) and non-food products (+0.51%). On the other hand, prices for services decreased by 0.34%, due to the appreciation of the leu against the Euro and U.S. dollars. Fresh fruits were more expensive in March by 5.26% compared previous month, the price of potatoes went up by 6.59% and the cost of sugar increased by 6.05%. Increases above 1% were recorded in March by flour (2.29%), bread (1.13%), other vegetables and tinned vegetables (4.29%), edible oil... citeste mai mult
Oil Companies Financial Reports To Be Verified By Romanian Tax Authority
The Government's report analyzing the producers and distributors of gas and diesel shows that almost all the local oil companies reported significant losses for 2010 and their real profits were not reflected accordingly, although fuel pump prices increased by around 20% in Romania last year. As a result of this report, Romanian tax authorities will verify whether the financial reports of local oil companies include unjustified expenses aiming to reduce their real profit and if their declared fiscal losses are grounded. "We will also verify whether the profits have been transferred abroad," Government sources said on Tuesday. The verifications will begin at the request of Prime Minister Emil Boc. The main companies selling fuel in Romania are OMV Petrom (SNP.RO), Rompetrol, LukOil, MOL and OMV. citeste mai mult
Apartment Prices In Bucharest Down 15% In 2010
According to a survey conducted by real estate website imopedia.ro, the sale prices of apartments in Romania’s capital city Bucharest reduced in average by 15% this year. In 2011, the prices are expected to continue their downward trend. "The price of apartments put up for sale in Bucharest fell this year due to the economic and social problems," said Razvan Muntean, the general manager of imopedia.ro. The average sale price of a one-room flat in the center of Bucharest was at EUR59,500 in October-November period, compared with EUR66,000 at the beginning of the year. The 3-room apartments in semi-central - eastern, southern and western - areas in Bucharest are put up for sale at prices below EUR70,000, the survey says. Imopedia website has around 60,000 visitors per month. citeste mai mult
Romania Might Be Forced To Import More Expensive Wheat Next Year
Adrian Radulescu, state secretary with the Ministry of Agriculture, announced today that Romania may have to import wheat next year at a price up to 30% higher than it got to export it for because of large quantities that have been exported. According to Radulescu, Romania has contracts to export 1.7 million tons of wheat this year for prices ranging from EUR190 to EUR210 per ton. Because of the masive exports, Romania might have to import 600,000 or 700,000 tons of wheat next year, for as much as EUR250 per ton. Romania's wheat output amounted to 5.6 million tons this year. citeste mai mult
