The Governor of the National Bank of Romania (BNR), Mugur Isărescu: "The annual inflation rate accelerated in the third quarter of 2025 due to the following factors: the caps on electricity tariffs have been removed, VAT rates have increased, and the level of excise duties has risen."

Mugur Isărescu, the governor of the BNR, discussed the evolution of inflation and interest rates after the monetary policy meeting. The annual inflation rate increased in the third quarter, influenced by the removal of the energy price cap, the increase in VAT, and the rising labor costs. Although the increase in VAT had a significant impact, prices for vegetables and fruits were not affected. Isărescu emphasized that inflation will remain around 9%, with an expectation of a subsequent decrease. He mentioned that the stability of the euro exchange rate is ensured, without recent interventions in the market. Additionally, he ruled out an increase in VAT and highlighted the importance of caution regarding the increase in the minimum wage, considering it a political decision.