National Bank of Moldova forecasts higher inflation rate in 2011
The National Bank of Moldova (BNM) has forecast an increase in the inflation rate in 2011 from 7.9 per cent to 8.4 per cent, because of heavier inflationary pressure than foreseen in February, when the BNM released its first report on inflation.
The growth in the regulated prices and fuel prices, following the increase in energy prices at international level and the weakening of the US dollar against the euro, led to higher inflationary pressures, BNM governor Dorin Dragutanu told a news conference on 5 May.
The BNM has changed its inflation forecast for 2012 as well, increasing it from 4.5 per cent to 5.7 per cent.
Dragutanu said that although in the first two quarters of 2011 the inflation rate will be lower than expected, the annual figure will reach the highest level in the third quarter and then will gradually fall to 5.7 per cent by late 2012. The BNM forecast a one-digit inflation rate, despite "the big inflationary pressure".
On 5 May, the National Bank of Moldova launched an assessment questionnaire on long and medium term inflationary expectations, worked out following a recommendation by the European Commission.
Moldpres
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