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Romanian Central Bank Raises Inflation Estimate

Romania’s central bank raised its inflation forecast for 2010 and 2011 after an increase in the value-added tax to meet international bailout conditions boosted prices.

The bank estimates the 2010 year-end inflation at 7.8 percent, compared with a May forecast of 3.7 percent, Banca Nationala a Romaniei Governor Mugur Isarescu said in Bucharest today. The rate may be 3.1 percent in December 2011, compared with a previous estimate of 2.8 percent, it said.