ING Bank Romania, Raiffeisen Bank and UniCredit Tiriac Bank representatives’ forecasts on consumer prices in June were similar, but their estimations regarding the situation in the upcoming months differ.
The country’s statistics institute INS will publish Monday data regarding last month’s consumer price index.
Analysts’ forecasts on this year’s inflation ranged from 7% to 8.5%.
UniCredit Tiriac Bank chief economist Rozalia Pal estimates the country’s annual inflation stood at 4.4% in June and will reach 6.6% in July and a maximum of 8.5% in August, to decrease to 7.7% at the end of the year.
ING Bank Romania chief economist Nicolaie Chidesciuc estimates the country’s annual inflation stood at 4.3% in June. Chidesciuc expects inflation might hit 7.3% in July and 8% in August, to fall to 7% at the end of 2010.
Raiffeisen Bank Romania chief economist Ionut Dumitru estimates the annual inflation was of 4.3% in June and forecasts it will hit 8%-8.5% at the end of the year.
Consumer prices inched up 0.15% in May from April, held back by cheaper food, but the annual inflation accelerated to 4.42%.
The International Monetary Fund recently revised its target on Romania’s annual inflation to 7.9% in 2010 from 3.5% previously, following the increase of the VAT from 19% to 24%.