Annual inflation rate 6.97 percent in December 2024
The annual inflation continued the upward trajectory started in the second half of 2024. Thus, in December 2024, the annual inflation rate was 6.97 percent, increasing by 1.54 percentage points compared to the previous month and surpassing the upper limit of the variation corridor of ±1.5 percentage points from the target of 5.0 percent, according to the data of the National Bank of Moldova (BNM).
Moreover, in the fourth quarter of 2024, the average annual inflation rate was 5.9 percent, being 0.9 percentage points higher than the previous quarter.
The BNM explained that the higher evolution of the annual inflation rate in the fourth quarter of 2024 was driven by some adverse sectoral developments, including the dynamics of regulated prices and dry conditions from the summer of the previous year.
The first inflation report of this year will be presented on February 25, 2025, including an updated forecast. For an optimal calibration of monetary policy measures and to ensure the return of inflation within the target range, the National Bank of Moldova will develop a medium-term inflation forecast, considering the details of the extended support package granted by the European Union.
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