The y-o-y inflation rate reached 14.8% in September in Romania, one of the highest levels in the European Union and, although expected to stabilize in Q4 it is likely to remain in double digits at least until late H1 2023. The monetary policy rate has also been increased by the National Bank of Romania, up to a most recent level of 6.25% with further increases expected in the following months The Q3 2022 economic growth has been solid +7.1% y-o-y), but a slowdown may be observed in Q4 as most agencies and analysts forecast a GDP growth ranging between 4-5% for the whole year, which remains a robust level considering the overall impacts of the inflationary pressures and also of the side effects caused by the Russian invasion of Ukraine.