Romania Real Net Wage Drops in Aug, Inflation Rises Further in Sep

Figures

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Romania's average net monthly wage fell by a real 2.2% year-on-year in August, after a 2.5% decrease in July, the National Institute of Statistics (INS) said in a statement on Wednesday.

On a monthly comparison basis, the real net wage registered a 1.7% drop in August.

According to the report, in nominal terms, the average net monthly wage rose 12.8% year-on-year and decreased by 1.1% month-on-month in August, to RON 3,933 (EUR 797).

Romania's consumer price inflation rose 15.9% year-on-year in September, following a 15.3% increase in August, the Bucharest-based statistics agency said in a separate statement.

Prices for food items surged 19.1% annually in September, and those for non-food goods registered a sharp increase of 16.6%. Costs for services were 8% more expensive compared to last year. On a monthly basis, consumer prices moved up 1.3% in September. The EU measure of the harmonized index of consumer prices, or HICP, rose at a slightly faster rate of 13. 4% yearly in August versus 13.3% in July.

The HICP moved up 0.9% from a month ago. Romania's economic growth eased more than initially estimated in the second quarter, the latest data from the statistical office also showed on Wednesday. On an unadjusted basis, GDP expanded 5.1% annually in the June quarter, slower than the 6.4% rise in the preceding three-month period. The second quarter figure was revised down from the 5.3% growth reported initially. 

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