BNR revises upwards to 3.5 pct inflation forecast for end-2018

The National Bank of Romania (BNR) has revised upwards the inflation forecast for the end of the year, BNR governor Mugur Isarescu stated on Friday.

The previous prognosis showed an inflation of 3.2 percent in 2018.

For the end of 2019, BNR estimated an inflation rate of 3.1 percent.

According to BNR, the acceleration of the annual inflation rate in the first quarters of 2018 is due to those consumption basket components outside the scope of the monetary policy. The exhaustion of this inflation spurt causes the re-entry of the indicator within the target range starting with the last quarter of 2018.

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