Romania Central Bank cuts inflation forecast to 1.5 pct in 2014

Newsroom 04/11/2014 | 16:01

The National Bank of Romania has revised its estimate regarding the annual inflation for 2014, reducing it from 2.2 percent to 1.5 percent, according to an announcement made by Mugur Isarescu on Tuesday.

The BNR governor quoted the annual inflation report which will be released to the public on Thursday, November 6.

“Compared to the August prognosis, the new projection indicates an expected inflation trajectory that is sensibly lower, its annual rate placing around the level of 1.5 percent in December 2014 and 2.2 percent at the end of 2015”, according to the BNR press release.

Romanian consumer prices fell 0.3 percent in August from a month earlier, mostly due to lower prices for food, while the annual inflation eased to 0.84 percent, the country’s statistics institute INS said Wednesday.

Price decreases month-on-month varied from -0.9 percent for food products and -0.06 percent for non-food products. Prices for services increase 0.2 percent, INS data showed in September.