Inflation in Romania Jumps to Two-Year High Due to Taxes and Higher Energy Prices

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Annual inflation in Romania rose to a two-year high in August, from 7.8 percent in July to 9.9 percent.

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Inflation in Romania has jumped to a two-year high, Bloomberg reported. In August, consumer prices were 9.9 percent higher than a year ago, an average of 2.1 percentage points higher than the July rate. The main reason for the acceleration in inflation was the Romanian government's tax hike in August, so the central bank believes the price increase will be a one-off.