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Jul 11, 2023 13:58 EEST
July 11 (SeeNews) - Moldova's consumer prices rose by 13.2% year-on-year in June, decelerating from an annual increase of 16.3% in May, the statistical office said on Tuesday.
Prices of services and food continued to be the main inflation drivers in June, soaring by an annual 25% and 13.1%, respectively, the National Bureau of Statistics, BNS, said in a statement.
Prices of non-food products rose 5.9% on the year in June.
On a monthly comparison basis, Moldova's consumer prices inched down by 0.5% in June, folowing a 0.5% monthly increase in May. The prices of services fell by 2.2% on the month, accounting for a decrease of 0.5 percentage points in average consumer prices. Food prices inched down by 0.2%, while prices of non-food goods edged up by 0.2% on the month in June.
In May, Moldova's central bank decided to cut its base rate to 6% from 10%, continuing the economy-stimulating monetary policy measures adopted since the end of 2022. The decision, which delivered the fifth cut in the bank's key rate since August 2022, aimed to bring inflation back within the central bank's target band of 3.5%-6.5% and hold it there over the medium term.
(1 euro=20.0346 Moldovan lei)
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