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Sunday, September 12, 2004

Romania inflation to slow

BUCHAREST, Sept 9 (Reuters) - Romania's month-on-month consumer price
inflation is seen slowing to about 0.5 percent in August after quickening to 1.3
percent in July, a senior government official said on Thursday.

The ex-communist Balkan country, which hopes to join the European Union in
2007, wants to cut inflation - one of the highest in the region - to 9.0 percent
this year and to 6-7 percent in 2005 from 14.1 percent in 2003. "We expect
only marginal differences in official figures a senior official from the
government's prognosis agency told Reuters, referring to data due to be released by
the National Statistics Board on Sept. 10.

The figure foreseen for August CPI matches market expectations. The median
estimate of 12 analysts pooled by Reuters put August's inflation at 0.5 percent.

The official said consumer price rises were forecast at below one percent per
month until the end of the year. He said August's blip in retail fuel prices
might offset the impact of a seasonal easing in prices of food.

"Some fuel price hikes are seen offsetting price cuts in vegetables and other
agricultural produce," he said.

Posted by Mihai : 9/12/2004 07:16:00 pm