February 28th, 2007
The annualised inflation rate decreased to 4 per cent in late January, after the annual inflation rate last year reached 4.87 per cent.
According to the National Statistics Institute (INS) the consumer price index went up in January by 0.2 per cent, as against 1 per cent in the corresponding month of 2006, primarily due to the rise in service prices, which is why the annualised inflation rate decreased by approx. one per cent. At its current level, the inflation rate perfectly falls on the target eyed by the National Bank of Romania for 2007.
The average rise in service prices last month was 1.4 per cent, foodstuff prices went up 0.3 per cent while non-food prices dropped by 0.2 per cent.
Industrial output picked up 7.1 pc last year
INS also released yesterday other macroeconomic data calculated for the year 2006. Thus, industrial output went up by 7.1 per cent in 2006, heavily supported by the processing industry (a 7.8 per cent increase).
The average turnover in industry also advanced last year, by 6.1 per cent. The rise in turnover in the utilities sector and the processing industry was the main growth driving force, according to INS.
In 2006, significant increase was also reported in terms of the number of new construction authorisations for residential buildings. Last year over 51,000 construction authorisations were released, accounting for a 17.3 per cent increase. Also, according to INS, the total area of housing units went up by approx. one-third, to 9.53 million sq m, with the average area up 11.5 per cent to 186.7 sq m.
Domestic output of energy raw materials down
In 2006, Romania’s main energy resources increased by 1.1 per cent, primarily due to the increase in the coal output and in natural gas imports. However, the domestic output saw a slight decrease, by 0.3 per cent, according to data made public by INS yesterday. The main primary energy resources totalled close to 42 million tonnes of oil equivalent (toe), up little over one per cent as compared to 2005. The domestic output totalled 24.591 million tonnes, and imports amounted to 17.36 million tonnes, up 3.1 per cent.
by Matei Harnagea
Entry Filed under: Why choose Romania?