BNR maintains 2016 inflation prognosis at minus 0.4pct; for 2017, prognosis revised upwards, to 2.1pct
Source: www.bnr.ro

The National Bank of Romania (BNR) maintains its inflation estimation for this year at minus 0.4 percent, however it revises upwards the prognosis for next year, to 2.1 percent, from 2 percent, as estimated in August, according to the data of the Quarterly Report on Inflation, presented by BNR Governor Mugur Isarescu.

"For next year, we have a minor upwards revision, by 0.1 percentage points, to 2.1 percent based on the adjusted CORE 2 evolution," Isarescu explained.

According to him, without the impact of the first round of the VAT quota reduction, inflation would have stood at 1 percent this year and 2.4 percent next year.

Without taking into account the impact of eliminating the additional excise tax on fuel since 1 January 2017, inflation would reach 2.7 percent in 2017, the BNR Governor also added. 

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