Moldova's inflation slows to 27.31% y/y in Jan

Food prices were the main inflation driver, jumping by an annual 28.59%, the National Bureau of Statistics, BNS, said in a statement.

Prices of non-food products rose 18.44% on the year in January, while the cost of services soared by an annual 38.86%.

On a monthly comparison basis, Moldova's consumer prices inched up by 0.45% in January. Food prices rose 1.12%, while non-food prices were up by a monthly 0.52%, contributing to the increase in average consumer prices with 0.41 and 0.2 percentage points, respectively. Consumer prices in the services sector decreased by 0.69% month-on-month.

On February 7, Moldova's central bank decided to lower its base rate to 17% from 20% to ensure the continuity of stimulus measures in the context of the easing of monetary policy started at the end of 2022 to support the creation of a disinflationary macroeconomic framework.

(1 euro=20.0929 lei)