Romanians Concerned Over More Price Increases - Survey

It its latest Consumer Climate Europe survey, the researcher said price expectations in Romania rose by 29.7 points to 19.7 points in March, one of the highest increases in the European Union.

"Price expectations increased in all EU monitored countries in March, with Bulgaria the only exception. There was a particularly sharp upturn in France, Italy and Romania, GfK said.

The researcher noted Romanian authorities are under strong pressure from its international partners to reduce the budget deficit.

According to the survey, rising concern of European consumers about inflation is also affecting expectations on income, with the indicator declining in most countries.

"The only exception here is Romania which posted a marginal increase, after the indicator had recorded an all-time low of -72.7 points in June 2010," Gfk said.

Income expectations in Romania are currently stabilizing at minus 31.3 points, following a 15% pay raise for public staff in February, which partly compensated the reductions in the previous years.

"For the remaining nine months of this year, experts are expecting a slight economic recovery," the survey showed.

GfK polled consumers in ten EU countries, making up approximately 80% of the population in the EU27 bloc. The ten states are Austria, Bulgaria, the Czech Republic, France, Germany, Great Britain, Italy, Poland, Romania and Spain.

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