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January 31, 2023

FinMin on inflation rate hike: Of course, it generates concern. I’ll meet BNR Governor next week

On Wednesday, Finance Minister Eugen Teodorovici stated, when asked about the inflation rate’s hike to 4.3 percent in January, that any increase generates concern, pointing out that next week he will meet BNR Governor Mugur Isarescu, with whom he will discuss this topic too.

Asked for his comment on the fact that Romania has registered the highest inflation rate in recent years, namely 4.3 percent in January, Finance Minister Eugen Teodorovici said: “Of course, any such increase, whether we’re talking about the inflation rate, ROBOR, the exchange rate or many others, generates concern.”

“That is why next week I’ll discuss with the Governor in order to see exactly how the two areas, fiscal policy and monetary policy, and the way we act together, because they are in fact two complementary areas, will take place,” Teodorovici added.

He also said the inflation rate is influenced by internal and external factors, including the salary increase and the price of the barrel of oil.

At the same time, the Finance Minister expressed his belief that the inflation rate will drop by the end of the year.

The annual inflation rate stood at 4.3 percent in January, up from 3.3 percent in December, the National Statistics Institute (INS) showed on Wednesday. Annual inflation rates higher than 4 percent had not been registered since 2013.

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