BNR forecasts 4.2 pct inflation for end of year

The National Bank of Romania (BNR) upwardly revised to 4.2 percent the inflation estimate for the end of the year, forecasting a 3.3 percent inflation for 2020, BNR governor Mugur Isarescu told a press conference in which he presented the quarterly report on inflation. In February 2019, BNR estimated a 3-percent inflation rate for the end of the year and 3.1 percent for 2020. According to the central bank, the annual inflation rate will remain above the upper limit of the inflation target for 2019, because of the offer-related shocks in the first part of the year. Later on, the inflation rate will reposition itself and it will maintain in the upper half of the target range, as a consequence of the disappearance of the effects of these unfavorable shocks and persisting inflation pressure at the basic inflation level. AGERPRES (RO - author: Daniel Badea, editor: Oana Tilica; EN - author: Cristina Zaharia, editor: Adina Panaitescu)