Moldovan national bank’s governor says annual inflation rate register high level in third quarter of 2017, afterwards to decrease quickly
14:27 | 03.08.2017 Category: Economic
Chisinau, 03 August /MOLDPRES/ – The annual inflation rate will continue to record a high level in the third quarter of 2017, and will then fall rapidly to the lower margin of the ±1.5 percentage point range from the inflation target of 5 per cent. The average annual value will reach the maximum of 7.4 per cent in the third quarter of 2017, and the 3.5 per cent minimum will be recorded in the fourth quarter of 2018 and the first in 2019, said Governor of the National Bank of Moldova (BNM), Sergiu Cioclea, in the presentation of the inflation report.
According to the governor, compared to the values recorded in the Inflation Report number two 2017, the projected annual average inflation rates are down 0.3 percentage points for 2017 and 0.7 percentage points for 2018.
The BNM revised the annual inflation rate forecast to 6.5 per cent in 2017, down from 6.8 as expected in May and 4.4 per cent in 2018, compared with 5.1 per cent as much as the forecasted previously.
Annual food prices will continue to grow in 2017. Subsequently, it will experience a downward trend. The annualized rate of regulated prices will continue to record a high level in the third quarter of 2017, after which it will decrease significantly. The fuel prices will have a downward trend until the first quarter of 2018, largely as a result of oil prices on slightly declining international markets, says the Inflation Report.
The BNM also appreciates that the statistical data from the first half of 2017 show the significant and constant recovery of the economies of the main trading partners, which in the short and medium term will stimulate the intensification of the foreign trade with the rigorous effects on the national economy.
(Reporter V. Bercu, editor A. Raileanu)
