Romania’s National Central Bank increased the estimate of the inflation for the end of the year to 5.1%, National Central Bank Governor Mugur Isarescu said when presenting the quarterly report on the inflation. He said that the estimate does not include the increase of prices in thermal energy that might happen this autumn.
Mugur Isarescu’s most important statements
The inflation rate maintained in the targeted interval for the first three months
Some factors that contributed: increases in the food product prices, petrol price increases
The persistence of the demand deficit tempered inflationary pressures and so did the national currency’s appreciation to the dollar by 4%
Mostly, what determined the inflation increase in the last four months were the high food product prices with internal and external causes.
Internal production started counter balancing foreign shocks to a greater extent
Food products prices increased the most in Bulgaria, but Romania is on the second place
Even though prices increased less in Romania than in Bulgaria, the impact was felt harder
Other factors that contributed to price increases were evolutions in North Africa and the impact over the price of petrol. Conditions on the labor market favor disinflation. All indicators point to that
Our estimates are based on the hypothesis that steadily, the economy is recovering.
We plead for such an evolution because it will also be long term
We expect monthly inflations to be lower in the upcoming months
The estimate for the end of the year is 5.1% and does not include the thermal energy price increase scheduled for this fall Romania’s National Central Bank increased the estimate of the inflation for the end of the year to 5.1%, National Central B
