Romanian Inflation Seen Rising To 7.8% In March

Romanian consumer prices are likely to increase by 0.5% on the month in March, while the annual inflation is seen accelerating to 7.8%, according to a median forecast of the country’s association of financial and banking analysts AAFBR.

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Romania's CPI rose 0.77% on the month in February, while the annual rate came in at 7.6%, above market estimations.

Analysts estimate a monthly inflation between 0.3% and 0.6% in March, while the annual rate forecasts range between 7.7% and 8%.

The year-end inflation is expected at 4.4% -5.7%, above central bank's target band of 3% plus/minus one percentage point around the target.

The central bank recently revised upward its forecast on the annual inflation to 3.6% at the end of 2011 and is expected to announce a second revision in the coming period, due to global surging prices for energy and food items.

The statistics institute INS is due to release inflation data for March on Monday.

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