2009 inflation rate: 4.74% / exceeded the National Central Bank target for the third year in a row

The inflation dropped at 4.74% in 2009 from 6.3% in 2008, but the National Central Bank missed the target for the third year in a row, a press release of the National Statistics Institute reads. The Central Bank’s inflation rate target for 2009 was 3.5% plus/minus a percentage point.

In December, consumption prices increased by 0.32% compared to the previous month. For 2010, the National Central Bank aims at an inflation of 3.5% plus/minus one percentage point.