Press Review - December 3, 2018

12.03.2018 By Oana Gavrila

Euro Area Annual Inflation Eases to 2% in November

Euro area annual inflation is expected to be 2% in November 2018, down from a near six-year high of 2.2% in October, according to a flash estimate from  Eurostat, the statistical office of the European Union.

Prices should rise at a softer pace for services, energy, and food, alcohol and tobacco.

Looking at the main components of euro area inflation, prices are expected to rise at a slower pace for services (1.3% vs 1.5% in October); energy (9.1% vs 10.7%); processed food, alcohol and tobacco (2.0% vs 2.2%); and unprocessed food (1.8% vs 2.1%).

Annual core inflation, which excludes volatile prices of energy, food, alcohol and tobacco and at which the European Central Bank looks in its policy decisions, is likely to decrease to 1% in November from 1.1% in October.

Iohannis Says Romania Can Ensure Reasonable EU Council Presidency

Romanian President  Klaus Iohannis said Romania could ensure a reasonable presidency of the EU Council despite difficult domestic circumstances, Austrian paper Kurier reported.

Iohannis said he opposes anyone who engenders the country's fight against corruption and the rule of law. He added he will use all his constitutional powers to stop the ruling coalition from passing laws weakening the judiciary.

Romania Sees Harshest Winter in Recent Years

Meteorologists announce this will be one of the harshest winters in recent years, with long periods of heavy snowfall and blizzards.

Temperatures will drop significantly, causing major discomfort. In the week Dec 3-10, temperatures will be lower than the period average, especially outside the Carpathian mountains arc.

During the week Dec 17-24, leading up to Christmas, temperatures will be generally in the normal range for this time of year, possible colder outside the mountain arc.