OREANDA-NEWS. February 11, 2013. President of NBM Dorin Dragutanu stated this at a press conference held to present the First Inflation Report of 2013. Downgrading the inflation rate forecasted for 2013 by 1.2 p.p. was caused by several factors, he said.

Anticipating volatility of global prices and taking into account the planned raises in fuel excises in Moldova, NBM foresees higher than expected rates of a growth in fuel prices. However, the Bank thinks the rates will be slower than those within the last 2 years. Besides, risks of a raise in regulated tariffs have been reduced. Inflation is less impacted by prices for gas imported, but prices for the power import may grow, the NBM President says.

He also points out the influence of the drought of 2012 on prices in 2013, including those for food. However, fallouts of the drought will be much less than in 2011, when the agricultural sector saw the highest growth in prices ever.

According to Dorin Dragutanu, inflation in Moldova will not exceeds the target of 5%, fluctuating within ± 1.5 p.p.