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Moldova's consumer price inflation quickens to 8.8% y/y in Oct

Moldova's consumer price inflation quickens to 8.8% y/y in Oct Photo: Slovenia's SURS

BUCHAREST (Romania), November 10 (SeeNews) - Moldova's consumer prices rose 8.81 year-on-year in October, compared to 6.68% in the previous month, the National Bureau of Statistics, BNS, said on Wednesday.

The main inflation driver in October were food prices, which added 12.73% year-on-year, BNS said in a statement.

Prices of non-food products rose 10.02% on the year in October, while the cost of services increased by an annual 1.64%.

On a monthly comparison basis, Moldova's consumer prices rose 2.12% in October. Food prices rose 4.03%, while non-food prices were up by a monthly 1.62%. Consumer prices in the services sector added 0.17% month-on-month.

On November 5, Moldova's central bank, BNM, raised its 2021 inflation projection by 1.4 percentage points to 4.5%, it said.

In 2022, consumer prices are expected to rise by 14%, double compared to the previous forecast of 7% made in August.

On October 29, BNM decided to maintain its policy rate at 5.5%, invoking pressures from domestic supply and aggregate demand and the uncertainty associated with the global energy crisis.

1 euro = 20.2878 Moldovan lei)