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AAFBR: Inflation went up to 8.5% in June

Prices went up by 0.2% in June, similarly to the previous month, so that the annual rate of inflation reached 8.5% per year, easily over the last of last month, according to most of the opinions expressed by the Association of Financial-Banking Analysts of Romania (AAFBR).

The estimates of the analysts regarding the monthly increase varied between 0.2% and 0.4% while the prognosis regarding the annual rate varied between 8.4% and 8.6% per year, Mediafax says.

According the data of the National Institute of Statistics, the annual inflation went up from 8.34% in April to 8.41% in May, after the monthly rate was 0.21% mainly as a result of the increase in fresh fruit, potatoies,honey, sugar and water and sewage services.

For the end of 2011, the estimate of the AAFBR members places the annual rate of inflation at 5.4% ( the estimates vary between 5.1% and 6.7%) and the expectations are increasing against those of last month and those of two months (5.3%) as well as against those of three months ( 4.8%).

For the end of 2012, the analysts see the inflation at 4.6% ( the estimates vary between 4% and 5.0%) which means a new increase ( last month expectations were at 4.5%). Thus, the expectations regarding the annual rate of inflation at the end of 2012 were stabilised at a relatively high level ( almost 4.5% against 3.5% at the beginning of the year).

The National Bank of Romania revised upwards the inflation prognosis for 2011 from 3.6% to 5.1% and expectations for next year from 3.2% to 3.6%. For Q2, the central bank estimates that annual inflation will be at 8.7%.

The central bank established for 2011 and 2012 an inflation target of 3% plus/minus a percentage point.

AAFBR is a professional association, set up in January 2008 and gathers almost 70 analysts in the banking sector, pensions funds, investment management companies, insurance companies and capital market companies.

Sursa: http://www.actmedia.eu

Tags: inflation annual aafbr

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