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Central Bank governor estimates 5 - 6% inflation in 2008

de Radu Rizea
Miercuri, 9 aprilie 2008, 13:34 English | Top News

The annual inflation rate will be between 5 and 6% at the end of 2008, close to the target set by the Romanian Central Bank (BNR), said BNR governor Mugur Isarescu on Wednesday.

In its latest report on inflation, BNR revised the annual inflation prognosis by adding 1.6%, from 4.3 to 5.9%. The 2008 inflation target was 3.8% +/- 1%.

The governor maintained his estimation that the highest inflation rate during the year was reached in March - 8.5%. "The monthly inflation rate shouldn't have any reason to be below 0.5%, but it may decrease in April", said Isarescu.

The National prognosis Commission revised its inflation estimations for 2008 adding 0.9%, up to 5.4%.

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