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Posted by: Daniela Socolovschi
News / Economic
05 Feb. 2021 / 17:04
The NBM announces that inflation will rise and food and fuel prices will rise also
Core inflation will rise by almost 1.8% this year and by up to 4.4% in 2022, and therefore food and fuel prices will rise. The statement was made by the governor of the National Bank of Moldova (NBM), Octavian Armaşu. According to the official, the increase in core inflation will be due to the increase in imported inflation and excise duties, reports Moldova 1.
The head of the Central Bank said that in the first quarters of this year, commodity prices will remain stable, after which they will increase at the beginning of next year.
"The slow annual growth rate of food prices in 2021 will be due to aggregate domestic disinflationary demand and the effect of the high annual base. Subsequent growth will be influenced by the effect of products with a strong seasonal character, but also the delayed effect of the drought in 2020. The annual rate of fuel prices will mark an increased value. It will register an upward trend until the third quarter of 2021, then starting next year it will decrease for two quarters," the NBM governor specified.
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