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Romanian Fin Min Says ’08 Headline Inflation At 6-7%

Romania’s headline inflation will be between 6% and 7% this year, exceeding the central bank’s target of 2.8-4.8%, Economy and Finance Minister Varujan Vosganian said Monday.
Romanian Fin Min Says ’08 Headline Inflation At 6-7%
28 iul. 2008, 14:19, English

The minister said that in the European Union as well, the target will be exceeded, adding that the EU’s prognosis stands at 4-5% for the year-end inflation, compared with its 2% target.

„When we have set the 3.8% target, EU had a target of 2% utmost. Now, EU is forecasting an inflation of 4-5%, while Romania’s inflation is seen at 6-7% at the end of the year”, Vosganian said in a press conference.

The central bank’s prognosis for 2008 inflation stands at 6%. The bank has set a 2.5-3.5% inflation target for next year.