National Bureau of Statistics informs that average consumer prices in January 2024 increased compared to:

• December 2023 by about 0,8%;

• January 2023 (in the last 12 months) by 4,6%.

Monthly inflation

In January 2024, compared to December 2023, average consumer prices increased by 0,8% (informative: in January 2023 compared to December 2022, average prices increased by 0,5%) (Table 1, Figure 2).

The increase in average consumer prices was driven by higher prices for:

• food - by about 0,8%, contributing to the increase in average consumer prices by about 0,3%;
• non-food goods - by about 0,7%, contributing to the increase in average consumer prices by about 0,3%;
• services - by 1,0%, contributing to the increase in average consumer prices by about 0,3%.

In January 2024 compared to December 2023, among food products, higher increases in average consumer prices were marked for vegetables - by 4,7% and fruit - by 2,3%.

At the same time, during the period under review, price decreases were recorded for chicken eggs - by 1,3%, sugar - by 0,4%, vegetable oil - by 0,3%.

In non-food goods, average consumer prices of footwear and clothing increased by 0,4% and 0.2%, respectively, and medicines by 0,3% during the reporting period.

At the same time, in services provided to the population, in January 2024 compared to December 2023 the prices of drinking water supply and sewerage services increased - by 1,4% and food services - by 1,1%.

At the same time, decreases in prices (tariffs) in the current month were recorded in regulated tariffs^2,3 for the supply of thermal energy - by 6,7%.

Annual inflation

Average consumer prices in January 2024 compared to January 2023 (over the last 12 months) increased by 4,6% (informative: in January 2023 compared to January 2022 average consumer prices increased by 27,3%), including food by 4,2%, non-food goods by 4,8% and household services by 4,3%.

Table 1. Inflation rate in January 2024²

Source of data in .xlsx format

Table 2. Consumer price indices in January 2024, by divisions of consumer goods and services, according to COICOP

Source of data in .xlsx format

Source of data in .xlsx format

Source of data in .xlsx format

International comparisons of monthly inflation

Available preliminary data on monthly inflation rates for January 2024 in some countries in the region are shown in Figure 3.

Source of data in .xlsx format

More details can be obtained in:

• Methodology of the Consumer Price Index in the Republic of Moldova
• The nomenclature of representative products included in the selective research for calculating the CPI

Relevant information:

• Statistical data bank / Economic statistics / Prices / Consumer price indices
• Consumer Price Index Calculator
• Reference metadata / Consumer Price Index
• Concepts and definitions / Consumer price index
• Calendar of electronic dissemination of statistical information in 2024

Note:

¹ The information is presented without the data on districts from the left side of the Dniester River and the municipality of Bender.
² Table 1 includes information on the inflation rate on 3 major groups of goods and services, as well as on some representative groups, aggregated according to the national classification used to calculate the CPI:

• the major group "Food products" includes milling and bakery products, meat, meat preparations and preserves, fish and preserved fish, milk and dairy products, eggs, fats, fresh fruit, other fruit and preserves, vegetables, potatoes, sweets and spices, non-alcoholic beverages, alcoholic beverages;
• the major group "Non-food goods" includes cigarettes, fabrics, clothing, knitting, footwear, furniture, means of transport and auto parts, printed publications, fuels and fuels, other goods;
• the major group "Services" includes education and training, communal-housing services, public food, health, car repair services, transport services, other services.

³ Starting from January 2024, the CPI calculations are made using the weighting coefficients calculated on the basis of the data for the year 2022.