BNR: VAT impact is transient

The impact of the VAT increase on inflation is temporary, Romania’s Central Bank (BNR) governor Mugur Isarescu said on the special occasion of presenting the BNR report on the inflation, during the second quarter of 2010. The impact is visible in a ‘ bump’, three months after the VAT rose, but things got back to normal, after. As for the deflation, it has slightly lessened, in the Q2, but the explanation is the drop, over the previous months, BNR official added.

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