The bank revised downwards its forecast on year-end inflation to 1.5% for this year and 2.2% in 2015, in the lower part of its target interval of 1.5%-3.5%. It had previously estimated the inflation rate at 2.2% in 2014 and 3% next year.
According to the bank’s latest inflation report released Thursday, the annual inflation will fall to 1.1% in the first months of 2013, as prices of tobacco products and fuels are expected to decline due to the downward adjustment of excise duties. The irate will then return into the targeted interval in the second quarter and progressively rise towards 2.6% at the end of September.