The rise in prices was faster than 2006 when Romania managed to keep inflation down to 4.8%, almost half the 2005 figure of 8.6%. The inflation target for 2008 is 3.8%. Food saw the biggest price rises in 2007 in Romania, rising 9.14%. Cooking oil went up by 44.1% and bread by 13.27%. The Romanian National Bank increased its key interest rate from 7.5 to 8% on Monday to combat rising inflation. The central bank has issued several warnings about increased inflationary risks based on Romania’s trade deficit and easy consumer credit. (m&c.com)
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