The annual rate of inflation will trend downward rapidly throughout this year. More precisely, the average annual inflation is forecast at 13.7% this year and 5.5% in 2024. Governor of the National Bank of Moldova Octavian Armasu unveiled the data.
BNM data showed that the annual inflation rate, in the fourth quarter of 2022, outlined a downward trajectory and recorded 30.2% in December 2022 compared to 34.6% in October 2022. In average terms, the inflation rate was 32.1% in the aforementioned quarter, being only 0.1% lower than the level anticipated in the inflation report of November 2022.
According to the BNM governor, among the factors that will influence inflation in the deceleration phase (first quarter 2023 – second quarter 2024) are: the high base of last year, the recent adjustments of tariffs for electricity, the continued mitigation of imported inflation in the coming year, as well as the continued tempering of oil prices on the international market.
Octavian Armasu concluded that under the new conditions “a stronger fiscal boost is needed to stimulate economic activity during 2023”. (Moldpres/Business World Magazine)