CNP expects inflation rate to attain 4.3 p.c. in 2009

The (December-December) inflation rate will reach 4.3 percent in 2009, while the average annual inflation is expected to stand at 5.55 percent, says the preliminary autumn prognosis by the National Prognosis Commission (CNP).

CNP expects the inflation rate to drop as follows: to 3.5 percent in 2010, to 3.2 percent in 2011, to 2.6 percent in 2012, to 2.3 in 2013 and to 2 percent n 2014, while the average inflation is to go down to 3.7 percent in 2010, to 3.2 percent in 2011, to 2.8 percent in 2012, 2.5 percent in 2013 and to 2.3 percent in 2014.

The inflation rate stood at 0.4 percent in Aug 2009, compared to July, whereas the annual (September 2008-August 2009) one decreased to 4.96 percent, National Statistics Institute (INS) data say.

The average rise in the consumption prices over Sept 2008 – Aug 2009 compared to the previous 12 months, an index that counts in the nominal convergence criteria for the euro zone, dropped to 6.4 percent in Aug, from 6.6 percent in July, and the inflation calculated on the harmonized index of consumer prices (HICP) went also down to 6.4, from 6.6 percent.

BNR targets at a 3.5 percent inflation, plus/minus 1 percent, late this year, and its last projection shows the inflation level to stay at 4.3 percent, on Dec 31, 2009.

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