Development of inflation rates in Romania
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Just came across an interesting info about inflation in Romania.
The inflation rate for consumer prices in Romania moved over the past 29 years between -1.5% and 255.2%. For 2020, an inflation rate of 2.6% was calculated.
During the observation period from 1991 to 2020, the average inflation rate was 46.9% per year. Overall, the price increase was 543,050.79 %. An item that cost 100 Leu in 1991 was so charged 543,050.79 Leu in the beginning of 2021.
In only a few countries negative inflation rates are achieved. This means that the general price level is declining and consumer prices get cheaper. This case is called deflation.In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.
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