Romanian inflation slows less than expected

Romania's annual inflation slowed less than expected in January, staying at just below 10% under the influence of higher electricity prices and tax hikes that are preventing the central bank from cutting interest rates.

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Policymakers are widely expected to keep the benchmark interest rate on hold at the European Union's joint-highest level of 6.50 per cent after the central bank ruled out rate cuts until summer of 2026.

Consumer prices rose 9.62% in the 12 months to January, slightly below December's 9.69%, data from the National Statistics Board showed.