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Georgescu, BNR: Disinflation process will continue

The disinflation process will continue, despite inflation pressures coming from excises for tobacco, says Florin Georgescu, first deputy governor of the National Bank of Romania.

"I am sure inflation will follow the programmed path. The disinflation process will continue, while the other policies accompanying the monetary policy - fiscal budget policy, income and structural adjustment policies will support the disinflation process," said Florin Georgescu.

"Inflation pressures persist, but there are chances to begin 2010 in the inflation target," Lucian Croitoru, councilor of the BNR governor said.The annual inflation rate went up in November to 4.65% when consumption prices grew by 0.67% compared to October, over analysts' expectations as a result of growing prices for non food and food products. The highest price increases were for eggs, tobacco, cigarettes and fuel.

BNR has an inflation target of 3.5% for the end of the year, +/- 1%, but in the last prognosis it changed the estimate on inflation level at the end of 2009 to 4.5% from 4.3% in the previous projection, as a result of the higher influence of excises for tobacco and administered prices.

Sursa: http://www.actmedia.eu

Tags: inflation continue process disinflation bnr georgescu

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