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CNP has downwardly adjusted its estimates of the country's end-2016 annual inflation to 0.9 percent
Romania's National Prognosis Commission (CNP) has downwardly adjusted its estimates of the country's end-2016 annual inflation to 0.9 percent, down from its 1.8-percent estimates in its previous autumn and winter forecasts.
In its latest spring forecasts, CNP has also upwardly adjusted its estimate of the 2016 average annual inflation, to -0.7 percent from 0 percent in the winter estimates.
According to CNP, end-2016 annual inflation in Romania should stay at 2.5 percent, as previously estimated in its winter estimates, with the average annual rate of inflation affirmed at 2.3 percent. Also affirmed were its end-2018 and end-2019 inflation rates, at 2.3 percent and 2.2 percent, respectively.
As for the exchange rates of the local currency, the leu, CNP is expecting them to increase to an average 4.46 lei to the euro, compared with 4.4 lei to the euro in the previous estimates, while in 2017 the same exchange rates should average out at 4.44 lei to the euro, up from CNP's 4.42 lei projections.
The National Bank of Romania (BNR) has downwardly adjusted its 2016 inflation projection by 0.8 percentage points, to 0.6 percent, from its previous estimates this February, according to the bank's quarterly inflation report unveiled on Tuesday by BNR Governor Mugur Isarescu.