{"id":239649,"date":"2006-12-18T13:47:00","date_gmt":"2006-12-18T13:47:00","guid":{"rendered":"http:\/\/new.moldova.org\/2006\/12\/18\/independent-experts-show-inflation-is-likely-to-outrun-the-cap-of-14-at-the-end-of-the-year-21799-eng\/"},"modified":"2006-12-18T13:47:00","modified_gmt":"2006-12-18T13:47:00","slug":"independent-experts-show-inflation-is-likely-to-outrun-the-cap-of-14-at-the-end-of-the-year-21799-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/independent-experts-show-inflation-is-likely-to-outrun-the-cap-of-14-at-the-end-of-the-year-21799-eng\/","title":{"rendered":"Independent experts show inflation is likely to outrun the cap of 14% at the end of the year"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The Moldovan Government missed the 12% inflation rate goal established for this year, given the circumstances when for over 11 months now the price markup reached the level of 12.7 per cent, say independent experts noting that the rate is likely to outrun the cap of 14% at the end of the year. <\/p>\n

"In November, the consumption prices advanced by 1.7% and we can expect that the markup will go up again in December. Traditionally, the last month of the year is marked by significant price markups", Valeriu Prohnitci, Expert Group economic analyst, told BASA-press. <\/p>\n

According to him, at the end of the year, inflation in Moldova might reach even 14.5%. The economist says there is also the opinion that the National Bank is consciously establishing a lower inflation cap not to create panic and reduce inflation expectations. <\/p>\n

\"\""At the same time, BNM’s decision to increase the refunding rate by 0.5% up to 14.5% is adequate. On the one hand, this decision comes to limit the credit volume, however the public signal BNM offers is very important too. The gesture in this case may mean more than the effect itself", Prohnitchi believes. <\/p>\n

ADEPT economic observer Iurie Gotisan says that there are factors that may determine the inflation increase to 14%. "The danger also comes from the currency remitters sent by those who work abroad and from the increase of salaries. Bad news may come from the oil product market as well", specified Gotisan for BASA-press. <\/p>\n

The expert believes that a very professional dialogue is required between BNM and the Ministry of Finance to manage a conciliation of the monetary and budgetary policies with a view to continue price stability and limit foreign deficits. <\/p>\n

In 2006, the inflation rate is the highest over the last five years. In 2005, inflation constituted 11.9%; in 2004 and 2003, 12%; in 2002, 5%; and in 2001, 10%. \/\/ BASA-Press<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>Independent experts show inflation is likely to outrun the cap of 14% at the end of the year<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-239649","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

The Moldovan Government missed the 12% inflation rate goal established for this year, given the circumstances when for over 11 months now the price markup reached the level of 12.7 per cent, say independent experts noting that the rate is likely to outrun the cap of 14% at the end of the year. <\/p>\n

"In November, the consumption prices advanced by 1.7% and we can expect that the markup will go up again in December. Traditionally, the last month of the year is marked by significant price markups", Valeriu Prohnitci, Expert Group economic analyst, told BASA-press. <\/p>\n

According to him, at the end of the year, inflation in Moldova might reach even 14.5%. The economist says there is also the opinion that the National Bank is consciously establishing a lower inflation cap not to create panic and reduce inflation expectations. <\/p>\n

\"\""At the same time, BNM’s decision to increase the refunding rate by 0.5% up to 14.5% is adequate. On the one hand, this decision comes to limit the credit volume, however the public signal BNM offers is very important too. The gesture in this case may mean more than the effect itself", Prohnitchi believes. <\/p>\n

ADEPT economic observer Iurie Gotisan says that there are factors that may determine the inflation increase to 14%. "The danger also comes from the currency remitters sent by those who work abroad and from the increase of salaries. Bad news may come from the oil product market as well", specified Gotisan for BASA-press. <\/p>\n

The expert believes that a very professional dialogue is required between BNM and the Ministry of Finance to manage a conciliation of the monetary and budgetary policies with a view to continue price stability and limit foreign deficits. <\/p>\n

In 2006, the inflation rate is the highest over the last five years. In 2005, inflation constituted 11.9%; in 2004 and 2003, 12%; in 2002, 5%; and in 2001, 10%. \/\/ BASA-Press<\/p>\n

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