The annual inflation rate in the Republic of Moldova reached 6.8 percent in December 2025, marking the lowest level recorded during the year, according to data published by the National Bureau of Statistics. Inflation has declined steadily since June 2025, although it remains slightly below the level recorded at the end of the previous year, when it stood at 7.0 percent.
On a monthly basis, consumer prices increased by 0.9 percent in December compared with November. Higher service prices drove this growth, rising by 3.5 percent and contributing one percentage point to overall inflation. Electricity tariffs caused the largest impact, increasing by 24.9 percent in a single month after the government ended compensation schemes on December 1, 2025.
The National Bureau of Statistics stated that between February and November 2025, energy compensations reduced household bills by around 25 percent and lowered inflation by approximately 0.9 percentage points. After authorities canceled these compensations, consumers began paying full tariffs approved by the National Energy Regulatory Agency, which triggered a sharp financial impact.
Lower prices for food and non food goods partly offset the increase. Food prices fell by 0.1 percent, while non food goods declined by 0.2 percent. Prices dropped the most for vegetables at 1.8 percent, fruits at 1.0 percent, and fuels at 2.0 percent, including diesel at 6.5 percent and gasoline at 2.1 percent.
At the same time, prices continued to rise for several food products. Hen eggs increased by 2.8 percent, while vegetable oil, milk, and dairy products each rose by 0.4 percent.
During 2025, food prices increased by 5.6 percent compared with December 2024, non food goods rose by 2.3 percent, and services increased by 14.8 percent, confirming that utility bills and tariffs remain the main drivers of inflation. Electricity prices rose by 48 percent year on year, while housing and communal services became nearly 27 percent more expensive.
For the full year 2025, average annual inflation reached 7.8 percent, well above the 4.7 percent recorded in 2024. Despite the slowdown at the end of the year, the cost of living rose much faster over the past 12 months.
The National Bank of Moldova projected that annual inflation would peak at 6.7 percent in the fourth quarter of 2025 and then decline to 4.1 percent in the second quarter of 2026. The bank estimated average annual inflation at 7.7 percent for 2025 and forecast a decrease to 4.3 percent in 2026.