Romania Feb Inflation Seen At +0.5% MMPublish date: 09-03-2009
Romanian consumer price index is seen up by 0.5% in February against the month before, while the yearly inflation is expected to slow down to 6.5% from 6.71% on the backdrop of a stable exchange rate and tempered internal demand, analysts said Sunday.
"We expect demand pressure to gradually fall, which should translate in very little price increases," ING Bank Romania economist Nicolaie Chidesciuc told a MEDIAFAX poll.
Chidesciuc said disinflation will continue until June, but after that the process could be discontinued and inflation might accelerate to 8% by the end of the year.
Florian Libocor, chief economist at BRD - Groupe Societe Generale, sees the monthly consumer price index at 0.3% in February and at 6.6% on the year.
"The inflation slowdown in February was driven by stabilization of the exchange rate and of prices in the "energy" category of products, as well as by a tempered internal demand," Libocor said.
He said inflation will reach 5% by the end of 2009, a "slightly pessimistic, yet cautious level", considering the global trend toward lower consumption prices.
On a more pessimistic note, Raiffeisen Bank Romania's chief economist Ionut Dumitru said the monthly consumer price index grew by 0.7% in February, while the annual inflation widened to 6.7-6.8%.
In January, Romanian consumer price index rose by a higher than expected 1.24% compared with the previous month, and the annual inflation widened to 6.71%, from 6.3% end-December, according to the National Statistics Institute data.
The central bank targets a 3.5% inflation rate for 2009, with one percentage point variation band. It recently said it expects annual inflation to decrease to 4.5% by the end of 2009, from 6.3% in December 2008.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei