The annual rate of inflation grew from 22.2% in March to 27.1% in April because a number of factors overlapped each other. Besides the import component of the inflation process, an important factor that amplified inflation was the delay in adjusting the regulated tariffs, the governor of the National Bank of Moldova (NBM) Octavian Armașu told a news conference in which he presented the monetary policy decision. According to the governor, the prices of energy resources and foods products seem to be higher than the anticipated one and the inflation peak is expected to be higher than projected, IPN reports.

“The negative deviation of 0.3 percentage points of the effective inflation from the forecast for this April, alongside the delay in adjusting tariffs and the anticipated secondary effects can distort the inflation forecast for the second quarter of 2021. Also, the tense situation in the region and the risks of escalation of this maintain pronounced uncertainty as regard the medium-term inflation forecast,” explained Octavian Armașu.

According to him, the import prices of energy resources and food products will continue to influence the dynamics of inflation. The food products imported from Ukraine could be substituted and the given pro-inflation effects will activate the supply factors by production costs.