FinMin Citu: Inflation rate stands at 1.8pct; Romania out of shame ranking

According to the Eurostat, EU's statistics office, Romania's inflation rate stands at 1.8 percent, and the country exited the shame ranking, Public Finance Minister Florin Citu mentioned on his Facebook page on Monday.

"I promised a non-inflationary economic environment and that is what I delivered! The PSD [the Social Democratic Party] destroyed for three years Romanians' purchasing power through the galloping increase of prices. In the socialist regime of the PSD, the inflation rate increased from 0 percent to 5.4 percent!!! The PSD led Romania to the EU's shame ranking - the highest inflation rate in the EU for three years in a row. This way it made poorer the Romanians with the least money. From day one, I said I will manage public finance so that we have an economic environment in which inflation can drop. And this is what I have done. Today, the inflation rate stands at 1.8 percent (Eurostat source) and removed Romania from the shame ranking. All this, although the PSD trumpets, headed by the eternal interim leader, have been screaming for three months that prices will explode. I have also dismantled this firecracker thrown by the PSD members in the public space," Citu argued.

According to him, a decreasing inflation rate leads to lower interest rates.