The central bank board on Monday approved the August 2018 inflation report, which will be presented on August 8.
The annual CPI inflation rate stopped increasing in June, when it stalled at 5.4%, above the variation band of the inflation target.
The anticipated path of the annual inflation rate sticks to coordinates quasi-similar to those in the preceding projection over the short term, but has been slightly revised downwards over the longer time horizon, the central bank said in a statement.
The uncertainties and risks surrounding the inflation outlook stem mainly from developments in administered prices (natural gas and electricity), volatile food prices and prices of some processed food items, as well as from labor market conditions and the fiscal policy stance. Also relevant are the future movements in the international oil price, the economic growth pace and the inflation dynamics in the euro area and the EU and hence the monetary policy stance of the ECB and of central banks in the region.