Romania’s recent decision to introduce a price cap on basic foods has resulted in inflation dropping to 8.8% in September and should, therefore be extended, said Romanian Prime Minister Marcel Ciolacu, according to Euractiv.
Romania’s price cap on certain foodstuffs, introduced on 1 August as part of the new concept of economic patriotism championed by Ciolacu, has been so successful in curbing inflation that the Romanian government wants to extend it beyond the initial three-month period.
“In September, inflation dropped to 8.8%, indicating the effectiveness of our efforts to limit the prices of essential foods. I am confident that by the end of this year, we will achieve single-digit inflation, as we promised”, Ciolacu said during Thursday’s government meeting.
Ciolacu has requested that Agriculture Minister Florin Barbu present the proposal for extending the price cap next week.
On top of that, the prime minister plans to expand the current list of 14 food items, especially with the upcoming winter holidays.
“More than 90% of these essential products are of Romanian origin. I think it is a justified decision, expected by the population and one that will bolster our local producers,” said Ciolacu, adding that this move aligns with the economic patriotism initiative “Buy Romanian”, launched on Wednesday.
Supporting local products through the act of “buying Romanian” represents “the most authentic gesture of economic patriotism”, he added.
The prime minister also encouraged Romanians, especially families with children, “to rediscover the beauties of their own country”.
“I urge them: travel Romanian! Every money spent on a vacation in Romania will do wonders for this country”, he added.