The updated inflation forecast for the current year, presented on Thursday, August 2, by the National Bank of Moldova (BNM) has decreased by one percentage point to 3.9%. The forecast for 2013 was taken from 4.4% down to 3.9%, reports Info-Prim Neo. BNM governor Dorin Dragutanu specified that during the next 6-8 quarters the rate of inflation will be within BNM’s aim range of 5% ±1.5%. He mentioned the main factor that determined the decreased revision of the inflation forecast was the decrease in the growth rate of fuel prices. The risks of possible growth in State regulated prices also have gone down. Smaller pressure is anticipated for gas and electric energy import prices, compared to previous periods, as a consequence of the slight stabilization of petrol prices on the international markets. “However, this year’s drought cannot go by without consequences, the prices for some foods will rise. But we believe that the pressure from the price increase will not be as high as the one registered in last year’s 3rd quarter, when food prices went up by 12%. We assume that in the second half of the current year, and the first two quarters of next year those prices might increase by about 8%”, he specified. When asked how the new forecast on inflation will affect the activity of businesses, the BNM governor said that they know very well what it means to do business and develop when the demand for goods exported to partner countries is very low. Not only in the EU member states, but also in Russia, for which international financial bodies, not in vain, have forecasted decreases in economic growth. “Moldova’s economic growth rate slowed down, and local demand may decrease in response to the reduced flow of remittances. But inflation is small, some sectors have invigorated over the past few months, thus, we are not expecting any major shocks”, added Dragutanu.