BNM: Average annual inflation to be 4.7 percent in 2024, 5.3 percent in 2025

Chisinau, August 13 /MOLDPRES/- Annual inflation rate will speed up until the end of next year, after which it will register a gradual decrease until the end of the forecast horizon (Q2 2026), with the exception being Q4 2025, when it will increase insignificantly. Average annual inflation will be 4.7 percent in 2024 and 5.3 percent in 2025. The data are set in Report No. 3 on inflation, presented today by Governor of the National Bank of Moldova (BNM) Anca Dragu.

According to the report, the annual inflation rate will oscillate in the vicinity of the target of 5.0% and will remain within the variation range of ±1.5 percentage points throughout the forecast horizon. The annual inflation rate will record the maximum value of 6.4 percent in the first quarter of 2025 and the minimum value of 4.0 percent in the second quarter of 2026.

During the second quarter of the year, the annual inflation rate continued its downward trend, temporarily leaving the range of ±1.5 percentage points from the 5.0 percent target and returning within this range in June.

The annual inflation rate eased from 3.9% in March 2024 to 3.3% in May 2024 and returned to the target range in June at 3.8%.

Thus, the average annual inflation rate was 3.5% in the second quarter of 2024, being 0.8 percentage points lower than in the previous quarter.

The National Statistics Bureau published inflation data for July this year yesterday. "Thus, inflation is 4.8 percent. We are currently analyzing the published figures to draw firm conclusions. At first glance, it can be said that the annual inflation registered an increase as a result of the increase in the prices of regulated tariffs and food products", concluded Anca Dragu.