'Our plan is to look at the average annual inflation, so not to be influenced. In terms of a 33 percent rise, the share of food in the consumer price index is higher than in Bulgaria, where it accounts for 26 percent. However, I do not think we have a different consumption structure compared to Bulgaria', said Isarescu.
BNR Governor appreciated, at the same time that, in Romania, fruits and vegetables factor had enormous price variations, which has unfavorably influenced inflation. '(...) The fruits and vegetables factor, which had such variations, led us to a lower inflation, of 2 percent in May and June, and the press and analysts urged us to lower the interest rate. Now, the same fruits and vegetables, with huge variations, led to an inflation of over 5 percent. Perhaps the same analysts now urge us to increase the interest rate.
For vegetables, fruits, eggs, since last year and until May this year, the effect was negative, meaning that prices dropped, so volatile prices contributed to lowering inflation, but thereafter the price rise was significant. As concerns the non-food goods, we have a positive evolution in more than 16 months and processed food have reasonable price increases and adjusted CORE2 inflation was maintained somewhere below 3 percent in the past 16 months. Crude oil contributed with a rise spurt, but here, also, term quotations are not worrying. It would rather be a period of relative stability', Mugur Isarescu pointed out.
