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Romania’s Prognosis Committee Sees ’09 Inflation At 4.3%

Romania’s inflation is estimated at 4.3% at the end of 2009, slightly below the central bank's 4.5% upper limit target, and is seen falling to 3.5% next year, according to the National Prognosis Committee CNP's preliminary autumn forecast.
Romania’s Prognosis Committee Sees ’09 Inflation At 4.3%
25 sept. 2009, 12:16, English

The committee estimates the average annual inflation at 5.5% this year, slightly below the 5.8% it predicted in its spring prognosis.

Romanian consumer price index fell in August by 0.19% on the month, compared with a 0.07% in July, while the annual inflation rate fell for the sixth month in a row, from 5.06% to 4.96%, according to the National Statistics Institute.

Romania’s central bank set up a 3.5% inflation target for 2009, with one percentage point variation band, and estimates the annual inflation rate will be at 4.3% in December.

The International Monetary Fund estimates that this year’s inflation will be at 4.3%, below the agreed target established in the EUR13 billion stand-by agreement, back in March.