Official statistics confirms forecasts by National Bank of Moldova on annual inflation rate
15:21 | 10.12.2019 Category: Economic
Chisinau, 10 December /MOLDPRES/ - The annual inflation rate in last November went up to 7.1 per cent, against 6.8 per cent in the month before, according to data by the National Statistics Bureau, made public today, which confirm the forecasts by the National Bank of Moldova (BNM). The central bank expects the consumer price index to increase till the end of this year.
In the inflation report No 4, launched in early November 2019, BNM was anticipating that “the annual inflation rate will reach the maximum level of 8 per cent in the fourth quarter of 2019, after which it will continuously drop till late 2020 and afterwards, it will stabilize in the proximity of the inflation target by the end of the forecast horizon (the minimum level of 4.3 per cent in the first and third quarters of 2021). The Economics and Infrastructure Ministry forecasts an inflation rate of 7.5 per cent in the end of this year.
The National Statistics Bureau (BNS) today informed that the annual inflation on food products in last November had stood at 11.8 per cent against the same period of the year before, on non-food goods – 4.6 per cent and the consumer prices for the services provided to the residents increased by 3.5 per cent against November 2018.
At the same time, according to BNS, the consumer prices index in last November increased by 0.8 per cent against the month before, as a result of a 1.9-per cent increase in the prices for food products and a 0.1-per cent rise in prices for non-food products.
In the inflation report No 4, the National Bank of Moldova (BNM) said that the annual pace of increase in prices for food products would significantly increase in the end of this year; afterwards, it will decrease till the end of the next year, after which, it will maintain relatively constant by the end of the forecast horizon. The annual pace of regulated prices will record relatively low increases on the entire forecast horizon; it will slightly increase this year and in the first half of the next year; afterwards, it will decrease in the first quarter of 2021. The prices for fuels will actually stagnate, except for the situation due in early next year, BNM also said.