Consumer Price Index for 12 months was 3.7% in Nov.

The Consumer Price Index for the last 12 months was 3.7% in November. It fell by 0.2% on the previous month, owing to the attenuation of pressure from food prices. For the tenth month in a row, it was within the limit of the inflation objective of 5% ±1.5%, Info-Prim Neo reports, quoting a communiqué from the National Bank of Moldova. The balance of risks to inflation continues to be influenced by external and internal factors, with a slight emphasis on inflationist factors. The oil prices on the international markets remain volatile despite the diminution seen in the recent period. The rise in food prices caused by the severe drought in the main agricultural regions will create additional inflationist pressure even if the effect of the drought will dissipate over the next quarters. The communiqué says the slowdown in economic activity and the poor internal and external demand will represent the main disinflationist factors next year. The monthly rate of inflation was 0.5%, being determined by the 0.8% increase in foods prices, the 0.4% rise in nonfood prices and the 0.3% increase in the tariffs of services provided for the population.