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Moldova's annual inflation speeds up in September

Moldova's annual inflation speeds up in September Inflation

CHISINAU (Moldova), October 10 (SeeNews) - Moldova posted annual consumer price inflation of 6.3% in September, up from 5.5% in the previous month, the National Bureau of Statistics, BNS, said on Thursday.

The main inflation driver of inflation in September were food prices, which rose 9.3% year-on-year, BNS said in a statement.

Prices of non-food products rose by 4.6% on the year in September, while services prices increased 3.7%.

Month-on-month, Moldova's consumer prices edged up by 0.8% in September. Food price depreciated by 0.96%, while non-food prices grew 0.3%. Consumer prices in the services sector rose 1.4% month-on-month.

Moldova’s central bank, BNM, BNM revised upwards its 2019 inflation projection by 0.1 percentage points (pp) to 5.0% in August. In 2020, consumer prices are expected to rise by 6.7%, up two pp compared to the level projected in June.

On September 11, BNM decided to increase its key rate to 7.5% from 7.0%, aiming to keep inflation close to the target level.

(1 euro= 19.4123 Moldovan lei)