Business News
Romanian inflation accelerates in February
Mar 10, 2011, 9:26 GMT
Bucharest - Retail prices in Romania in February rose more than expected, putting a question mark on the official annual inflation target, the National Statistical Institute (INS) said Thursday.
Consumer prices rose by 0.77 per cent month-on-month, which would push the yearly rate to 7.6 per cent, up from 6.99 per cent in January, the INS said.
The INS attributed the spike to rising food and tobacco prices.
Romania has set the 2011 inflation target at 3 per cent, plus or minus 1 per cent, but central bank chief Mugur Isarescu on Wednesday expressed pessimism at meeting that goal.
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