CPI Made Up 4,8% in September in Moldova
OREANDA-NEWS. October 17, 2014. At the same time, it increased by 0.9 percentage points compared to September last year. The annual inflation rate in September remained is close to the inflation target over the medium term- 5%.
According to the report of the National Bank, in September the monthly inflation rate increased by 0.8%, which was mainly due to the higher prices for non-food products by 1.4%, as well as for food products - by 0.7%. At the same time, fees for services rendered to population, increased less than by 0.2%. The NBM emphasize that the annual core inflation over the past 12 months mounted to 5.8% in September, increasing by 0.5 percentage points in comparison with the previous month. In September 2014 the monthly core inflation rate made up 1%. The most significant increase in prices was registered on vehicles and parts, education, detergents, cigarettes, clothes and shoes.
The food prices in September grew by 0.7% compared with the previous month. In particular, in September the increase was registered in the eggs prices- 19.1%, fresh vegetables - 5.2%, fish and canned fish - 0.9%, milk and dairy products - 0.6%, rice - 0.5%. At the same time, in September the decrease was registered for the potatoes prices- by 12.1%, sugar - 4.4%, vegetables - 3.6%. Excluding seasonal factors, food prices in September fell by 0.3% compared with the previous month. This trend was due to a rich offer of products on the market as a result of the favorable weather conditions and as a result of the Russia's ban on the supply of agricultural products from Moldova.
The annual rate of growth in the food prices in September made 4.7%, down by 1.9 percentage points in comparison with the previous month, and by 0.3 percentage points compared to September 2013. According to the NBM, in September 2014, fuel prices grew by 3.2%, mainly due to the increase in the coal prices - by 18.2%. At the same time, the price of liquefied petroleum gas in cylinders increased by 6.3%. Firewood and fuel prices grew by 0.5% and 0.3%, respectively, and had a little impact on the dynamics of the rising fuel prices. The annual rate of increase in fuel prices in September was 8%, which is higher than the previous month by 3.1 percentage points, as compared to September and in 2013 - by 3.7 percentage points, accordingly.
Adjustable (administrative) prices in September grew by 0.1% compared with the previous month, mainly due to the increase in rent prices in student dormitories - by 6.4%, medicines prices- by 0.3%. Less significant contribution to the change in regulated prices has made the rising cost of air services and the reduction of tariffs for the international rail transport. The annual rate of growth of regulated prices in September made up 2.6%, unchanged compared with the previous month, but increasing by 0.6 percentage points. In comparison with September 2013 the National Bank of Moldova intends to continue perform monitoring the dynamics of the domestic and international economic environment, including the evolution of the consumption of population, the dynamics of remittances, changes in the terms of trade to ensure the price stability in the medium term.
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