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Romanian Annual Inflation Nears Two-Year High On 0.28% Monthly Rise

Romania’s inflation slowed down to 0.28% on the month in June, due to a moderate increase in food and non-food prices, but annual inflation was just below a two-year high, the National Statistics Institute said Thursday.
Romanian Annual Inflation Nears Two-Year High On 0.28% Monthly Rise
10 iul. 2008, 10:03, English

Annual inflation was at 8.61% on the year in June, just below the two-year high of 8.62% in April.

In June alone, food prices were up 0.32% on the month, non-food prices rose 0.28%, while prices for services contributed by only 0.19% to the monthly inflation increase.

Since the beginning of the year, inflation has already accumulated 3.57%, which makes it practically impossible for the central bank to reach its year-end target of 2.8%-4.8%.

The central bank projects inflation at 6% at the end of December this year. It has established a target of 2.5%-4.5% for next year inflation.