The inflation rate for the last 12 months was 7.1% in March 2015, up 0.6 percentage points compared with a month before, exceeding the central bank’s inflation target of 5% ±1.5 percentage points, IPN reports.

In a communique, the National Bank of Moldova says the poor economic activity in the countries of the Eurozone and the recession in Russia, which are Moldova’s main foreign partners, can lead to a decline in the currency incomes of the population and the national exporters in the short term. This can influence the exchange rate of the national currency against the foreign currencies and, afterward, the rate of inflation. The geopolitical situation in the region can worsen and determine additional inflationist pressure. This March the rate of inflation was by 1.4 percentage points higher than last March.

The prices of detergents, sanitary and hygiene articles, clothing and construction materials increased the most. Food prices last month rose by 1.3% on a month before following the rise in the prices of fresh fruit by 6.8%, sugar by 5.3%, fresh vegetables by 4.4 %, nonalcoholic beverages by 3.4%, fresh and canned fish by 2.7%, and bakery products by 1.6%. At the same time, egg prices fell by 20.9%.

In March fuel prices grew by 0.6% on February, following an increase in the prices of gasoline and diesel fuel. The liquefied petroleum gas decreased in price by 0.8%, while the prices of coal, wood for heating and liquid fuel remained at the same level as a month before.

The central bank assures that it will monitor and anticipate the internal and external economic developments, including the population’s consumption, remittances and the currency market indicators, so as to maintain prices in the medium term.