BNR expects annual inflation to rise to 8.2 percent by yearend, targets 3.4 percent for 2011

The National Bank of Romania (BNR) has revised its annual inflation forecast for 2010 from the previous 7.8 percent to 8.2 percent, said governor Mugur Isarescu at BNR’s presentation of the third-quarter inflation report.

As in the case of the last inflation revision announced by BNR (in August when it was hiked to 7.8 percent from 3.7 percent), the new inflation target is also linked to the effects of the VAT increase to 24 percent.

For 2011 also the target was increased to 3.4 percent from an initial 3.1 percent. According to Isarescu, inflation should start to decrease starting the second semester of 2011.

Simona Bazavan

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