National Bank Romania revises upwards to 3.6pct inflation forecast for end-2018

The National Bank of Romania (BNR) has revised the inflation forecast for the end of this year to 3.6pct, BNR Governor Mugur Isarescu said on Wednesday.

The previous forecast indicates an inflation of 3.5pct in 2018.

For the end of 2019, the BNR estimates an inflation rate of 3pct, down 0.1 percentage points.

According to the BNR, the CPI annual inflation rate is expected to fluctuate around 5pct during the second and third quarters of 2018, and will be reduced starting the fourth quarter of 2018, benefiting substantially from favorable base effects, attributable to the current year, the influence of the bidding shock in the last part of 2017, and for the next year to those of the first half of 2018.