Romania continues to score the highest inflation rate in the EU

With an annual inflation rate of 7.6 in August, Romania ranks the first position in the EU, according to data published this Wednesday by Eurostat, the statistical office of the European Union. Greece (5.6 percent) came second and Hungary (3.6 percent) third.

EU annual inflation was 2.0 percent in August 2010, down from 2.1 percent in July. A year earlier the rate was 0.6 percent, according to the same source. Monthly inflation was 0.2 percent in August 2010. In the Euro area annual inflation reached 1.6 percent in August 2010, down from 1.7 percent in July.

The National Bank of Romania (BNR) revised its prognosis on this year’s inflation rate from an initial 3.7 percent to 7.8 percent, following the 5 percent VAT hike in July.

Simona Bazavan

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