The National Bank of Moldova said the annual rate of inflation in January was 3%, up 0.6 percentage points on the previous month. It was under the lower limit of the variation interval of ±1.5 percentage points, IPN reports.

In a press release, the National Bank says the external inflationist risks are associated with the rise in international food prices, uncertain evolution of oil and natural gas prices alongside the acceleration of the economic growth in the region. The delay in adjusting the tariffs of regulated services, together with the expiration of customs duties on the import of particular products from Ukraine, generates a disinflation impact on the subsequent evolution of inflation.

The central bank projects that the annual rate of inflation (which is the rise in consumer prices during a month of this year compared with the same month of last year) will have an upward trajectory until the third quarter of this year, but will be within the limits of the variation interval of ±1.5 percentage points, in accordance with the forecast inflation rate.

The monthly rate of inflation was 1.2% following the 2.2% rise in food prices, the 0.9% increase in nonfood prices and the 0.3% growth in the prices of services.

The annual rate of the basic inflation (which shows the inflation trend without the effects of temporary and transitory influences) this January was 3.9%, a decrease of 0.6 percentage points on a month before.