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Moldova's consumer price inflation hits new 23-year high of 31.8% y/y in June

Moldova's consumer price inflation hits new 23-year high of  31.8% y/y in June Source:BNM

CHISINAU (Moldova), July 11 (SeeNews) - Moldova's consumer prices rose to a new 23-year high of 31.83% year-on-year in June, compared to 29.05% in the previous month, the National Bureau of Statistics, BNS, said on Monday.

The main inflation driver in June were food prices, which added 34.3% year-on-year, BNS said in a statement.

Prices of non-food products rose 23.44% on the year in June, while the cost of services increased by an annual 40.7%.

On a monthly comparison basis, Moldova's consumer prices rose 2.21% in June. Food prices rose 0.57%, while non-food prices were up by a monthly 2.35%. Consumer prices in the services sector added 4.31% month-on-month.

June inflation is the highest since September 1999, when Moldova recorded a 53.6% surge in consumer prices, data from the central bank BNM showed.

On June 3, the central bank decided to raise its policy rate to 18.5% from 15.5% in order to temper the rise in consumer prices and to mitigate risks stemming from the war in Ukraine.

(1 euro =19.499 lei)

 
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