Moldova's inflation speeds up to 4.6% y/y in Jan

Prices of non-food products were the main inflation driver in January, rising by an annual 4.8%, the National Bureau of Statistics said in a statement.

Prices of food products and services rose by 4.2% and 4.3% on the year, respectively.

On a monthly comparison basis, Moldova's consumer prices added 0.8% in January, accelerating from a rise of 0.4% recorded in December. Prices of non-food products rose by 0.7% on the month, accounting for an increase of 0.3 percentage points in average consumer prices. Food prices were up by 0.8%, while prices of services increased by 1% on the month in January.

On February 6, Moldova's central bank decided to cut its policy rate to 4.25% from 4.75%, aiming to bring inflation closer to its 5% medium-term target.

(1 euro=19.1738 Moldovan lei)