Romania Ctrl Bk Ups 08 CPI Forecast To 6% Vs 5.9%

“Inflation will stay above the target range until the first quarter of 2009, but will start going down this fall,” Isarescu said.

The bank has cut its forecast for inflation in 2009 to 3.5% from 3.9%, Isarescu also said.

It is aiming for 2.8% to 4.8% inflation in 2008 and 2.5% to 4.5% in 2009.

Romania’s CPI rose 0.67% on the month in March, as a result of higher telecom and fuel prices, bringing the annual rate to 8.63%, its highest level since January 2006.