Raw material prices have been following a significantly upwardtrend worldwide this year, and the impact on Romania is gettingstronger and stronger, even if not taking into account the VAThike.
The Statistics Institute yesterday announced a 0.55% monthlyinflation in October, which explains last week's nervousness of theNBR officials when it came to talking about prices.
The high growth of the resource-intensive emerging economies, aswell as the hundreds of billions of dollars worth of injections byFederal Reserve are some of the causes of a new boom of prices ofraw materials - be they foods or non-foods, after the 2008 boom,which was offset by the major financial crisis.
Wheat was the first to go up in price in 2010. Then the other typesof grain become more expensive, followed by basic metals and bymeat products.
The price increase does not seem to stop here, though,international analysts forecast. Next year the trend of the rawmaterial prices could become the main reason for concern of theauthorities, given that the wheat price may double, say prestigiousforeign business publications.
Wall Street Journal and Financial Times are now talking about newrecord highs in terms of raw material prices in the nearfuture.
Cotton is the last of a number of raw materials whose pricesreached all time highs. Gold, silver and grain saw their pricesrise fast on commodities exchanges throughout the world, yet noneof them can equal cotton's performance - a 100% increase in 2010 to3.36 dollars per kilo.
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