Moldova's annual inflation slows to 3.5% in April

Prices of non-food products were the main inflation driver in April, rising by an annual 7%, the National Bureau of Statistics said in a statement.

Prices of food products rose by 3.8% on the year in April, while prices of services decreased by 2.6%.

On a monthly comparison basis, Moldova's consumer prices added 1.8% in April, accelerating from a rise of 0.5% recorded in March. Prices of services rose by 3.8% on the month, accounting for an increase of about 0.9 percentage points in average consumer prices. Food prices were up by 1.6%, while prices of non-food products ticked up by 0.7% on the month in April.

On May 9, Moldova's central bank decided to cut its policy rate to 3.6% from 3.75%, aiming to stimulate the economy amid slowing inflation.

(1 euro=19.0917 Moldovan lei)