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Romanian Inflation May Slow To 6% By Yr-End – Isarescu

Romanian inflation is on a downward path and might even go as low as 6% by the end of the year, central bank Governor Mugur Isarescu said at a press conference Tuesday.
Romanian Inflation May Slow To 6% By Yr-End - Isarescu
23 sept. 2008, 19:53, English

"Romania’s inflation rate was 9% in July. After July’s peak, it went down and there is a tendency for it to reach 6% at the end of the year," Isarescu said.
 
The governor said, however, that the authorities should ensure that wage growth is in line with productivity increases.
 
"I’m not calling for tempering wage growth, but we have to correlate productivity increases with wage increases," Isarescu said.
 
Romania’s consumer price index fell 0.09% on the month in August, driven by a decrease in prices for services, bringing the annual inflation rate to 8.02%.
 
The central bank’s inflation forecast stands at 6.6% for the end of this year and 4.2% for the end of 2009, compared with a target of 2.8%-4.8% for 2008 and 2.5%-4.5% for 2009.