The annual inflation rate and core inflation in Moldova will grow rapidly in the first half of 2022, after which it will slow down - NBM.
This was stated by the President of the National Bank of Moldova, Octavian Armasu, in an interview with Moldovan media. He noted that prices have risen everywhere in the past year, and this is a global phenomenon. In order to prevent them from escalating, the NBM was very attentive to local and external events and each time made deliberate and balanced decisions. The National Bank adopted monetary policy measures that also softened inflationary pressures. “Restrictive measures were also needed when in the second half of last year there was uncertainty associated with the energy crisis - the rise in prices for natural gas and oil on the international market, which slowed down global economic activity with consequences for domestic demand and domestic economic activity,” said head of the National Bank. He noted that the pronounced increase in the annual inflation rate last year, as well as the persistence of a high level in the current year, are mainly determined by the external macroeconomic environment, which generates expressed inflationary pressures against the background of the energy crisis at the regional level, a pronounced increase in prices for raw materials, as well as significant increased costs associated with international transportation of goods. “Available data and analyzes show that annual inflation and core inflation will rise rapidly in the first half of next year, before slowing down. In February, the NBM will publish the first Inflation Review for 2022 and the information will be updated in accordance with daily data, ”said Octavian Armasu. According to him, the National Bank will continue to monitor the dynamics of the consumer price index, the internal and external macroeconomic situation and will take the necessary measures in a timely manner to achieve the fundamental goal of ensuring price stability. For this, an arsenal of monetary policy instruments will be applied in order to mitigate inflationary pressures as much as possible. “I would like to emphasize that the results at the country level, regardless of the phenomena and events taking place, depend not only on one institution, joint efforts of all authorities are needed, within the limits of their competence,” stressed the head of the NBM. //11.01.2022 – InfoMarket.
