{"id":443379,"date":"2017-02-03T10:56:41","date_gmt":"2017-02-03T10:56:41","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=443379"},"modified":"2017-02-03T10:56:41","modified_gmt":"2017-02-03T10:56:41","slug":"moldova-national-bank-report-inflation-rate-35-6-2017","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/moldova-national-bank-report-inflation-rate-35-6-2017\/","title":{"rendered":"Moldova National Bank report: Inflation rate between 3,5% and 6% in 2017"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

On February 1st, the National Bank of Moldova presented the first report<\/a> on inflation in 2017.<\/p>\n

The National Bank Governor, Sergiu Cioclea, announced that the annual inflation rate in the fourth quarter of 2016 was 2,5%, with the lowest point in December- 2,4%. The rate was outside the limit of 1,5% from the targeted 5%. Accordingly, the decrease in annual inflation rate during this period\u00a0was mainly due to the modest domestic demand, rich harvest in agricultural sector, high effect of a base period associated with the national currency depreciation in 2015 and the dissipation of the impact of the electricity tariffs increase in July 2015<\/em>.<\/p>\n

Additionally, the core inflation decreased from 6,7% to 4,5% in December 2016:<\/p>\n

“In December 2016, annual rate of food prices fell to 2.8 percent, while prices of regulated services decreased by 1.1 percent compared to December 2015. Annual rate of fuel prices continued the upward trend of the previous quarter, accounting for 1.6 percent in December 2016.”<\/em><\/p>\n

The external factors for the decrease were the quota distribution and cutting production by oil producing countries, the increase of interstraits by Federal Reserve to the level of 0,5%-0,75% causing an appreciation of the US dollar, but also the increase in raw materials prices generated by the global demand revival.<\/p>\n

Speaking about the economic development, the report reads that “in the third quarter of 2016, GDP recorded an increase of 6,3% compared to the same period of 2015, the annual dynamics of the economic activity being higher than in the first half of 2016″.<\/em><\/p>\n

The increase of the GDP was reportedly due to the agricultural sector dynamic which increased the exports by 16,4%, the household consumption increased by 4,9%, but also the change in value of the investment inventories. The unemployment rate decreased by 0,5% in the third quarter of 2016, accounting for 2,9%, lower than in 2015.<\/p>\n

The National Bank of Moldova expects the negative dynamic of the inflation rate to continue in the first quarter of 2017 to the minimum level of 3,5%. The maximum level would be achieved in the third quarter, when the inflation rate would be 6%, higher than the targeted 5%.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>On February 1st, the National Bank of Moldova presented the first report on inflation in 2017. The National Bank Governor, Sergiu Cioclea, announced that the annual inflation rate in the fourth quarter of 2016 was 2,5%, with the lowest point in December- 2,4%. The rate was outside the limit of 1,5% from the targeted 5%. […]<\/p>\n","protected":false},"author":6,"featured_media":441786,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-443379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

On February 1st, the National Bank of Moldova presented the first report<\/a> on inflation in 2017.<\/p>\n

The National Bank Governor, Sergiu Cioclea, announced that the annual inflation rate in the fourth quarter of 2016 was 2,5%, with the lowest point in December- 2,4%. The rate was outside the limit of 1,5% from the targeted 5%. Accordingly, the decrease in annual inflation rate during this period\u00a0was mainly due to the modest domestic demand, rich harvest in agricultural sector, high effect of a base period associated with the national currency depreciation in 2015 and the dissipation of the impact of the electricity tariffs increase in July 2015<\/em>.<\/p>\n

Additionally, the core inflation decreased from 6,7% to 4,5% in December 2016:<\/p>\n

“In December 2016, annual rate of food prices fell to 2.8 percent, while prices of regulated services decreased by 1.1 percent compared to December 2015. Annual rate of fuel prices continued the upward trend of the previous quarter, accounting for 1.6 percent in December 2016.”<\/em><\/p>\n

The external factors for the decrease were the quota distribution and cutting production by oil producing countries, the increase of interstraits by Federal Reserve to the level of 0,5%-0,75% causing an appreciation of the US dollar, but also the increase in raw materials prices generated by the global demand revival.<\/p>\n

Speaking about the economic development, the report reads that “in the third quarter of 2016, GDP recorded an increase of 6,3% compared to the same period of 2015, the annual dynamics of the economic activity being higher than in the first half of 2016″.<\/em><\/p>\n

The increase of the GDP was reportedly due to the agricultural sector dynamic which increased the exports by 16,4%, the household consumption increased by 4,9%, but also the change in value of the investment inventories. The unemployment rate decreased by 0,5% in the third quarter of 2016, accounting for 2,9%, lower than in 2015.<\/p>\n

The National Bank of Moldova expects the negative dynamic of the inflation rate to continue in the first quarter of 2017 to the minimum level of 3,5%. The maximum level would be achieved in the third quarter, when the inflation rate would be 6%, higher than the targeted 5%.<\/p>\n

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