Moldova's annual inflation slows to 3.3% in May

Prices of non-food products were the main inflation driver in May, rising by an annual 6.8%, the National Bureau of Statistics said in a statement.

Prices of food products rose by 4.2% on the year in May, while prices of services decreased by 3.8%.

On a monthly comparison basis, Moldova's consumer prices edged up by 0.2% in May, decelerating from a rise of 1.8% recorded in April. Prices of food products inched up by 0.8% on the month, accounting for an increase of about 0.3 percentage points in average consumer prices. Non-food prices were up by 0.2%, while prices of services ticked down by 0.5% on the month in May.

On May 9, Moldova's central bank decided to cut its policy rate to 3.60% from 3.75%, aiming to stimulate economic growth amid slowing inflation.

(1 euro=19.2143 Moldovan lei)