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Inflation in Romania

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Inflation in Romania was a major issue during the 1990s, when the yearly inflation reached a peak of 256% in 1993. Since then, the inflation has slowly decreased, reaching a period of deflation in 2015.

Year Inflation rate
1970s
1980s
1990 5.1%
1991 170.2%
1992 210.4%
1993 256.1%
1994 136.7%
1995 32.3%
1996 38.8%
1997 154.8%
1998 59.1%
1999 45.8%
2000 45.7%
2001 34.5%
2002 22.5%
2003 15.3%
2004 11.9%
2005 9.0%
2006 6.6%
2007 4.8%
2008 7.9%
2009 5.6%
2010 6.1%
2011 5.8%
2012 3.3%
2013 4.0%
2014 1.1%
2015 -0.6%
2016 -1.5%
2017 1.3%
2018 4.6%
2019 3.8%
2020 2.6%
2021 5.1%

For most of the Socialist era, inflation was relatively low, due to the centrally planned economy. Exceptions were at the beginning of the 1980s austerity policy in Romania, when prices were risen in order to reduce consumption and allow the government to pay back the foreign debt.

Following the onset of liberal economic reforms in November 1990, as prices and exchange rates were gradually liberalized, inflation began to rise. The inflation went down due to the economic growth, but in 1997, following the elimination of subsidies, a new inflation bout occurred.

Notes

  1. Raport asupra inflației, no. 1, p.15
  2. INS: IPC serii de date
  3. Raport asupra inflației, no. 1, p.7
  4. Raport asupra inflației, no. 1, p.9

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