According to Eurostat, Romania has seen the second negative inflation rate in Europe during September 2015.
Reportedly the highest inflation rates were recorded in Malta, Belgium, Portugal and Sweden and, out of all the states that recorded a negative inflation, Cyprus, Romania and Spain had the lowest.
According to the National Institute for Statistics, in Romania the annual inflation rate was -0.7 percent in September, whereas in August it had been around -0.9 percent.
Apparently, this June was the first time in 25 years when the annual inflation rate was negative, more precisely -1,6 percent. This was a result of a 9 percent reduction in prices on food, drink and VAT starting June first.
The National Bank of Romania estimates that by the end of 2015 the annual inflation rate will be around -0,3 percent while by the end of 2016 the country could be looking at a rate of 0,7 percent.