Inflation returned to variation range targeted by National Bank of Moldova

13:35 | 14.11.2023 Category: Economic

Chisinau, Nov. 14 /MOLDPRES/- In October, inflation entered the variation range targeted by the National Bank of Moldova (BNM), reaching 6.3%. The figures are included in a report on inflation, presented today by BNM governor Octavian Armașu.

"Inflation continued to fall throughout the year. Dynamics was supported by several factors, primarily our previous monetary policy decisions, and modest domestic demand, exchange rate appreciation and certain developments in energy prices and electricity tariffs and natural gas", said Armașu.

All components of inflation show a downward trend, including core inflation. "We have more volatility in fuel prices, which have even reached negative levels in certain periods," Armașu said.

He added that the BNM will continue to promote a stimulative monetary policy to encourage domestic demand and will aim to achieve its objective of maintaining medium-term inflation within the range of the target variation of 5%.

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