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Romanian Passenger Rail Co CFR Calatori Plans 7% Ticket Price Hike As Of Aug 1

Romania’s state-owned passenger rail company CFR Calatori asked the Transport and the Finance Ministries to approve a 7% price increase for train tickets as of Aug 1, citing high inflation
Romanian Passenger Rail Co CFR Calatori Plans 7% Ticket Price Hike As Of Aug 1
08 iul. 2008, 16:29, English

"If the increase isn’t approved for Aug 1, the hike will take place as of Sept 1," CFR Calatori general manager, Alexandru Noaptes, told a news conference Tuesday.

He explained the request for price increases complies with current laws, which stipulates ticket prices may be increased depending on inflation.

"We’ve seen reports in the media that we plan to increase ticket prices as fuel prices are rising. We don’t plan that. We asked the Ministries of Finance and Transport to increase prices and adjust them to the inflation rate. Under the law, if the consumer price index exceeds 5%, we may ask for higher ticket prices,” Noaptes said.

Romania’s consumer price index stood at 8.46% on the year in May. Romania’s central bank has set an inflation target of 2.8%-4.8% for 2008.