The Central Bank of Romania (BNR) revised upwards the inflation estimation for this year, which went up 0.2 percent, the bank’s governor Mugur Isarescu said.
The estimated inflation now stands at 3.9 percent in 2007, the central bank anticipating for 2008 a 0.5 percent lower inflation. Isarescu noted BNR’s estimation will probably disappoint those who expected a more optimistic forecast.
“We revised by 0.2 percent the inflation estimation for the end of the year, this being the result of the administered and volatile prices and those of fuels. We saw increases in the prices of fuels, vegetables, fruits and the administered prices,” said Isarescu.
The head of BNR emphasized the revise was made on clear data, any probabilities being excluded. BNR set for this year a 4 percent inflation estimation, the target for next year standing at 3.8 percent. A 3.5 percent inflation was forecasted for 2009.
Source: Newsin
