The excessive share of food in the consumer basket, which upsetthe National Bank's inflation forecast, is a problem that has beendiscussed by the National Statistics Institute (INS), but which hasremained unsolved for the time being.
The National Bank has revised its inflation forecast for thisyear upward, from 3.6% to 5.1%, expecting the prices of food and offuels to be the main pressure factors. Annualised inflation climbedabove 8% in March, with Isărescu saying only a good agriculturalyear would help the disinflation process.
Romania has recorded the second-biggest food price increase inthe region, after Bulgaria. Moreover, an increase in the price ofenergy is set to follow in autumn, which will add inflationarypressure.
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