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Central bank governor: deflation will stagnate in Q2

Deflation will stagnate in the second quarter this year, Governor of the National Bank of Romania (BNR) Mugur Isarescu said on Thursday when the quarterly report on inflation was presented.

'Deflation will stagnate in Q2, so that it will stay at around 44.2 percent (inflation rate for the second quarter- editor's note) until summer due to the base effect. Deflation will go up in the second part of the year, also because the troubles were reported at the end of last year,' BNR governor said.

Isarescu added the inflation rate might vary between 1 and 5 percent end-2011, due to the persisting high uncertainties.

The annual inflation rate stood at 4.2 percent this March, according to the data made public by the National Statistics Institute (INS).

Consumer prices gained 0.22 percent in March 2010 compared to February. Service tariffs climbed down by 0.09 percent, while prices of food products surged by 0.17 percent. Moreover, non-food products saw their prices go up by 0.38 percent this March against the previous month.

The annual inflation rate reached 4.49 percent in February, after having surged to 5.2 percent in January as a result of rising excises on tobacco, energy and fuels.

According to INS, prices have gone up by 5.1 percent, on average, over the past 12 months (April 2009 - March 2010) compared to the previous 12 months (April 2008 - March 2009), determined on the basis of the CPI (consumer price index), while the average price growth determined on the basis of the harmonized index of consumer prices (HICP) is put at 5.3 percent.

Sursa: http://www.agerpres.ro

Tags: percent march inflation governor deflation stagnate prices bnr

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