CPI growth rate different from inflation rate

The consumer price index (CPI) for the last 12 months was 6.5%. In April it was by 0.7% higher than in March. The annual basic inflation was 3.1%. Last month, it was by 0.3% higher than the previous month, Info-Prim Neo reports. The monthly inflation was 1.0%, being fueled by the 1.3% rise in food prices, 0.7% increase in non-food prices and 0.9% rise in the prices of services. The price of sugar, fresh vegetables and fresh fruit increased the most following the rise in fuel prices that led to higher transportation costs. The season factor also influenced the price rises. The fuel prices in April increased by 1.5% on March. The inflationist pressure caused by the volatility on the international oil markets was partially offset by the appreciation of the national currency against the U.S. dollar. The discrepancy between the growth rates of the CPI and inflation points to the increased influence of non-monetary factors on the inflationist process, says the National Bank of Moldova.