Moldova's inflation slows to 6.3% y/y in Oct

Prices of services were the main inflation driver in October, rising by an annual 10.8%, the National Bureau of Statistics said in a statement last week.

Prices of food and non-food products rose by 5.6% and 4.2% on the year, respectively.

On a monthly comparison basis, Moldova's consumer prices edged up by 0.5% in October, equalling the monthly rise recorded in September. Food prices rose by 0.86% on the month, accounting for an increase of 0.32 percentage points in average consumer prices. Prices of non-food products were up by 0.3%, while the prices of services inched up by 0.1% on the month in October.

On November 7, Moldova's central bank decided to cut its policy rate to 4.75% from 6%, aiming to bring inflation close to the 5% medium-term target.

(1 euro=19.2830 Moldovan lei)