The National Bank of Romania (BNR) increased its 2019 inflation forecast to 4.2 percent at the end of this year and projected a 3.3 percent inflation rate for 2020, according to BNR Governor Mugur Isarescu statement in a press conference.

In February 2019, the National Bank of Romania estimated 3 percent inflation for the end of this year and 3.1 percent for 2020.

According to the Central Bank, the annual inflation rate will continue to be higher than the target range over the year 2019, amid speculation of supply-side shocks in the first half of this year.

Subsequently, it will be repositioned and maintained in the upper half of the target range as a result of the depletion of the effects of these adverse shocks, as well as of the persistence of inflationary pressures on base inflation.

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