Food prices increased by 34.3% in June compared to June 2021, according to data from the National Bureau of Statistics. The prices of vegetables increased the most – 80.4%, eggs – 53.2%, sugar – 31.2%, meat 26%, milk and dairy products – 25.5%, fruits – 23% and vegetable oil – 18%. Non-food goods – 65.7% and construction materials – 32.7%
Average consumer prices in June 2022 compared to June 2021 (in the last 12 months) increased by 31.83%, including food by 34.30%, non-food goods by 23.44% and services provided to the population by 40,70%.
In terms of services provided to the population, gas became more expensive (by 301.2%), central heating by 92%, communal services – housing – 87.8%, and transport by 37%.
The NBM aims to bring inflation up, minus 1.5% from the 5% inflation target on the medium term.
Inflation is rampant worldwide. It is due to rising prices for raw materials, food and energy along with disruption in supply chains. In this regard, the central banks and revised upward inflation expectations for the coming quarters and in response maintained an anti-inflationary monetary policy.
The regional and international context unbalances the domestic economic situation and puts inflationary pressures on the import channel. Moldova is more dependent on international markets, which makes it more vulnerable.
The governor, Octavian Armașu, stated that the highest level of inflation is to be reached in September or October and could exceed the level of 35%.
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