The National Bank of Romania (BNR) revised downwards to 7pct the inflation forecast for the end of this year and estimates an inflation of 4.2pct for the end of 2024, according to the data presented on Wednesday by BNR Governor Mugur Isarescu, Agerpres informs.

In November 2022, the BNR estimated an inflation of 11.2pct for the end of 2023.

According to the BNR, the annual CPI (Consumer Price Index) inflation rate is projected to follow a continuously downward trajectory, however, maintaining values above the central target range. For the current year, the new CPI inflation projection is similar to the alternative trajectory, based on the new ceiling scheme, presented at the conference held in the November 2022.

The BNR governor mentioned that all the eastern countries, as well as the countries in the Eurozone have a significantly higher inflation than the inflation target.

He said that taking into account the geopolitical context, there are many components that cannot be controlled, noting that it is not known how the war in Ukraine will develop and to what extent the costs of energy products will be reduced.

The governor mentioned that the BNR collaborates with the Government and that the institution is attentive to the adjustment measures taken.

Agerpres