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

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.