Consumer price indices in the Republic of Moldova in February 2024

https://statistica.gov.md/en/consumer-price-indices-in-the-republic-of-moldova-in-february-9485_61013.html

National Bureau of Statistics informs that average consumer prices in February 2024 increased compared to: January 2024 by about 0.7%; December 2023 by about 1.5%; February 2023 (in the last 12 months) by 4.3%.

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

  • January 2024 by around 0,7%;
  • December 2023 by about 1,5%;
  • February 2023 (in the last 12 months) by 4,3%.

Monthly inflation

In February 2024, compared to January 2024, average consumer prices increased by 0,7% (for information: in February 2023 compared to January 2023, average prices increased by 0,9%).

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

  • food - by about 0,4%, contributing to the increase in average consumer prices by about 0,1%;
  • non-food goods - by about 1,1%, contributing to the increase in average consumer prices by about 0,4%;
  • services - by 0,6%, contributing to the increase in average consumer prices by about 0,1%.

In February 2024 compared to January 2024, among food products, higher increases in average consumer prices were marked for vegetables - by 3,4% and fruit - by 1,9%. At the same time, during the period under review, price decreases were recorded for chicken eggs - 8,3%, meat, meat preparations and canned meat - by 0,5%, vegetable oil - by 0,3%. In non-food goods, average consumer prices of fuels and combustibles increased in the reporting period - by 3,6% (including: diesel - by 7,5% and gasoline - by 4,5%), drugs (pharmaceutical products) - by 0,5%. At the same time, in February 2024, the price (tariff) for heat energy increased by 13,5% compared to January 2024. At the same time, decreases in prices (tariffs) in the current month were recorded for natural gas tariffs - by 4,4%.

Inflation since the beginning of the year

Average consumer prices in February 2024 compared to December 2023 (from the beginning of the current year) increased by 1,5%, including food - by 1,1%, non-food goods - by 1,8% and services - by 1,6%.

Annual inflation

Average consumer prices in February 2024 compared to February 2023 (in the last 12 months) increased by 4,3% (for information: in February 2023 compared to February 2022 average consumer prices increased by 25,9%), including food by 3,5%, non-food goods by 5,6% and services by 3,1%.

Table 1. Inflation rate in February 20242

Consumer goods and services

Weights of expenditure groups (by decimails)3

February 2024, in % compared to:

Contribution on the overall change in consumer price in February 2024 compared with the January 2023

January 2024

December
2023

February 2023

 Total CPI

10000

0,71

1,51

4,31

0,71

Food goods

3683

0,36

1,12

3,47

0,13

Non-food goods

3887

1,14

1,81

5,61

0,44

Services

2430

0,56

1,61

3,14

0,13

Source of data in .xlsx format

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

Division

Specification

Weights of expenditure groups (by decimails)

February 2024, in % compared to:

Contribution on the overall change in consumer price in February 2024 compared with the January 2023

January 2024

December
2023

February 2023

 

 Total CPI

10000

100,71

101,51

104,31

0,71

01

Food and non-alcoholic beverages

3532

100,36

101,15

103,34

0,13

02

Alcoholic beverages and tobacco

309

100,72

103,24

110,56

0,02

03

Clothing and footwear

820

100,02

100,28

106,89

0,00

04

Housing, water, electricity, gas and other fuels

1317

100,46

101,11

96,25

0,06

05

Furnishings, household equipment and routine household maintenance

846

100,51

100,82

105,70

0,04

06

Health

571

100,30

101,17

104,47

0,02

07

Transport

1129

103,49

104,67

105,76

0,39

08

Communication

433

99,92

100,96

101,94

0,00

09

Recreation and culture

288

100,45

101,37

111,05

0,01

10

Education

90

101,30

101,66

109,43

0,01

11

Restaurants and hotels

302

100,12

101,20

106,47

0,00

12

Miscellaneous goods and services

362

100,59

101,07

109,09

0,02

Source of data in .xlsx format

Source of data in .xlsx format

Source of data in .xlsx format

International comparisons of monthly inflation

Preliminary data available on monthly inflation rates for February this year for some countries in the region are presented in Figure 3.

Source of data in .xlsx format

More details can be obtained in:

Relevant information:

Notes:

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.

11.03.2024

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