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Eurostat: Romania ranks 3rd in Europe in terms of annual inflation rate in February

The annual inflation rate in the euro zone in February 2009 stood at 1.2 percent, up from 1.1 percent the value recorded in January 2009, according to a revised forecast by the European Statistics Office, released on Monday.

In the European Union, the annual inflation rate reached 1.7 percent in February 2009, down from the level of 1.8 percent in January, 2009. The highest annual inflation rates were recorded in Latvia (9.4 percent), Lithuania (8.5 percent) and Romania (6.9 percent in February 2009, up from 6.8 percent in January 2009). The lowest annual inflation rates were recorded in Ireland and Portugal (both with only 0.1 percent growth) and Cyprus (0.6 percent growth).The annual inflation rate dropped in 11 EU member states, stayed unchanged in 2 and went up in 13, in February 2009, compared with the previous month.

In the case of Romania, the figure announced by the Eurostat was similar to the one released by the Romanian National Statistics Office (INS), which has recently announced growth in the annual inflation rate by 0.88 percent in February against the previous month, while the annual inflation rate (February 2008-February 2009) climbed up to 6.89 percent. In 2008, the annual inflation rate stood at 6.3 percent.

The Romanian National Bank's (BNR) forecast targets 4.5 percent in annual inflation in 2009. The inflation target for 2009 and 2010 stands at 3.5 percent, plus/minus 1 percentage point. In 2008, the BNR's inflation target of 3.8 percent, plus/minus 1 percentage point, was missed.

In the euro zone, the inflation level of 1.2 percent was below the forecast of the European Central Bank (ECB), wanting to maintain the growth in prices 'close to 2 percent' and is possible to feed speculations according to which the ECB plans to reduce the key interest at the next week's meeting on monetary policy.

On the occasion of the monetary policy meeting early this month, the European Central Bank reduced the key interest in the euro zone by 50 percent based on the record level of 1.5 percent, On the same occasion, the ECB chairman Jean-Claude Trichet suggested the bank might take other measures too to fight the worst recession after the World War II.

 

Sursa: http://www.actmedia.eu

Tags: percent inflation annual february romania bnr euro

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