Cigarette Prices In Romania To Hike More Than 5% - Ctrl Bker

The price of a cigarette pack in Romania will rise by more than 5% following the five-point raise in the sales tax because excises will now apply to a higher base level, central bank governor Mugur Isarescu said Friday.

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"We've introduced some increases in tobacco prices - the excise is calculated at a price with VAT makes the price for a cigarette pack rise more than the VAT as of this month," Isarescu told a news conference.

The central bank on Friday revised its inflation forecast for 2011 to 3.1% from 2.8% previously. The bank had raised this year's inflation forecast to 7.8% from 3.7% after the Government raised the VAT to 24% from 19%.

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