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Apr 13, 2023 12:32 EEST
Moldova's consumer prices rose by 22% year-on-year in March, decelerating from an increase of 25.91% in the previous month, the statistical office said on Friday.
The cost of services coupled with food prices were the main inflation drivers in March, soaring by an annual 37.7% and 22.2%, respectively, the National Bureau of Statistics, BNS, said in a statement.
Prices of non-food products rose 11.9% on the year in March.
On a monthly comparison basis, Moldova's consumer prices inched up by 0.8% in March. Food prices rose 1.1%, while the cost of services increased by a monthly 2.1%, contributing to the increase in average consumer prices with 0.4 and 0.5 percentage points, respectively. The prices of non-food goods eased by 0.2% month-on-month, accounting for a 0.1 percentage-point decrease in average consumer prices.
In March, Moldova's central bank decided to cut its base rate to 14% from 17%, continuing the economy-stimulating monetary policy measures adopted since the end of 2022. The decision aimed to spur demand by encouraging consumption and balancing the national economy while anchoring inflationary expectations.
(1 euro=19.7391 lei)
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