Economic growth in Romania, which stood at 4.1% in the first 3 months of 2015, was the biggest in the European Union. An economist with the World Bank in Romania, Catalin Pauna has recently said that the country’s robust and balanced evolution has been based on 3 components: private consumption, exports, which have increased, and investments, mainly the private ones.
An engine of economic growth, consumption was boosted by the drop in foodstuff prices in July. Food prices dropped on an average by 1.17% as compared to the previous month and by 7.25% as compared to July 2014.
According to calculations made by the National Statistics Institute, the prices for potatoes and fresh fruit have dropped. But prices have increased for citrus fruit and other fruit from southern areas, as well as for eggs.
This happens in the general context in which, as of June 1st, the VAT was reduced from 24% to 9% for foodstuffs and beverages. Consequently, in June, as compared to May, prices for foodstuffs dropped by more than 8%, and by over 6% as compared to the same month of 2014.
