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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[1][2]
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.[3] The inflation went down due to the economic growth, but in 1997, following the elimination of subsidies, a new inflation bout occurred.[4]
^Raport asupra inflației, no. 1, p.15
^INS: IPC serii de date
^Raport asupra inflației, no. 1, p.7
^Raport asupra inflației, no. 1, p.9
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