Inflation stands at 4.3 per cent in Moldova in last February

Chisinau, 22 March /MOLDPRES/ - The annual inflation in last February was in the target interval and stood at 4.3 per cent, by 0.03 percentage points lower against the month before. Governor of the National Bank of Moldova (BNM) Anca Dragu has unveiled data to this effect.    

BNM noted that the ‘’decrease in prices for food products on the international market, the high basis and the low demand contributed to the diminution of the inflation.’’ ‘’Concomitantly, the stimulatory measures of monetary policy taken so far, the positive seasonal effect, the adjusting of the fiscal policy and sectoral adverse shocks attenuated the decrease of the inflation,’’ BNM noted.  

According to the quoted source, the effective inflation was by 0.5 percentage points lower than the forecast one. The deviation occurred after a temporary difference in the adjusting of the tariffs for medical services had taken place.  

The economic activity in the domestic environment grew by 0.2 per cent in the fourth quarter of the 2023 year. ‘’The modest increase was prompted, to a great extent, by the rich harvest, which led to the increase in the exports of agro-food products. The consumption of the residents’ households continued to grow; on the other hand, the consumption of the public administration continued to decrease during two, and, respectively, three quarters in a row. The investments continued to drop for the third quarter consecutively. This dynamic, from modest from negative, was caused, to a great extent, by the insignificant increase of the real revenues of the population and by the great uncertainty in the region,’’ BNM said.   

BNM’s data also shows that the transfers to private people decreased by 15.9 per cent in December 2023 and in January 2024 – by 4.6 per cent. The salary payment fund grew, in real terms, by 10.9 per cent in the fourth quarter of the last year.     

BNM keeps a close eye on the inflationist process and the uncertainties related, in order to maintain the inflation in the interval of+/-1.5 percentage points from the target of 5 per cent.