National Bank of Moldova: annual inflation rate to continue to decrease
The annual inflation rate will have a downward trend till the first half of 2026, after which it will show a minor increase. The average annual inflation for 2025 and 2026 will be 7.7 percent and 4.3 percent, respectively, being maintained for 2025 and increased for 2026 by 0.4 percentage points. The forecasts today were published by the National Bank of Moldova (BNM).
According to BNM’s data, the annual inflation has maintained a downward trend, decreasing from 8.2 percent in June 2025 to 6.9 percent in September 2025 and remaining above the upper limit of the variation interval of ±1.5 percentage points from the inflation target of 5 percent.
At the same time, the average annual inflation rate in the third quarter of 2025 was 7.4 percent, being 0.5 percentage points lower against the previous quarter.
BNM emphasized that the current forecast is affected by a string of risks, including uncertainties regarding the timing and magnitude of the adjustments of tariffs for regulated services, as well as the way of providing households with compensation for energy resources on the cold period of the year.
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National Bank of Moldova 
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