The National Bureau of Statistics informs that, in December 2025, the average consumer prices increased:

• compared with November 2025 by 0.9% (for information: in December 2024 compared to November 2024, average consumer prices increased by 1.0%)³;
• compared with December 2024 increased by 6.8% (for information: in December 2024 compared to December 2023, average consumer prices increased by 7.0%).

Thus, the annual inflation rate (for the last 12 months) continued to decline, reaching its lowest level (6.8%) in December 2025.

Monthly inflation

In December 2025, compared with November 2025, average consumer prices increased by approximately 0.9% (Table 1), determined by the following factors:

• a decrease in average prices for food products by about 0.1% and for non-food products by about 0.2%, which together contributed to a decrease in average consumer prices of nearly 0.1%;
• an increase in prices for services provided to the population by approximately 3.5%, which led to a rise in average consumer prices of 1.0%.

During the period under review, the sharpest declines in foodproducts prices were recorded for vegetables (1.8%) and fruits (1.0%).

At the same time, in December 2025, more significant increases in average consumer prices were recorded for hen eggs (2.8%) and vegetable oil, milk, and dairy products (0.4% each).

For non-food products, in December 2025, the most notable decreases in average consumer prices were recorded for fuels and lubricants – by 2.0% (including diesel fuel – by 6.5% and petrol – by 2.1%).

For services provided to the population, in December 2025 compared with November 2025, average prices increased by 3.5%, mainly as a result of higher average consumer prices for electricity³ (by 24.9%). It should be noted that the subsidies granted by the Government to households for electricity consumption (reflected in electricity bills) during February–November 2025 contributed to reducing the effective electricity payments borne by the population by approximately one quarter, thereby generating a decrease in the overall level of consumer prices by about 0.9% by the end of the specified period. At the same time, as of 1 December 2025, these subsidies (for the payment of electricity bills) are no longer provided to household consumers, consequently, in the calculation of the Consumer Price Index (CPI), the full level of the regulated tariffs for electricity, as established in accordance with the decisions of the National Agency for Energy Regulation (ANRE), is reflected.

At the same time, during the period under review, average prices in the catering sector increased by 0.2%, while average prices for passenger transport services decreased by approximately 0.4% (including air transport services, which decreased by 1.8%).

Annual inflation

Average consumer prices in December 2025, compared with December 2024 (over the last 12 months), increased by 6.8%, continuing a downward trend that began in June 2025 and reaching, in the reference month, the lowest level observed during the year. On an annual basis, average prices increased by 5.6% for food products, by 2.3% for non-food products, and by 14.8% for services provided to the population (Table 1).

Average annual inflation

The average annual inflation rate, which represents the average increase in consumer prices in 2025 compared to the previous year, was 7.8% (compared to 4.7% in 2024 compared with 2023).

Table 1. Inflation rate in December 2025⁴

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CPI data for goods and services, at the division level, according to the international COICOP¹⁰ classification, are presented in Table 2.

Table 2.  CPI in December 2025, by goods and services divisions, according to the COICOP classification

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The evolution of the Consumer Price Index in the Republic of Moldova for the period 2015–2025 can be viewed using an interactive dashboard Consumer Price Index - interactive dashboard, available on the NBS website. It allows users to dynamically and interactively explore the data by year, month, and groups of goods and services.

The statistical release on the evolution of consumer prices in January 2026 will be disseminated on February 10, 2026.

Notes:

¹ The information is presented without the data for the districts on the left side of the Dniester and the municipality of Bender.

² The CPI data rounded to two decimal places are available in Tables 1–2. At the same time, in the text of the press release, the CPI data are presented rounded to one decimal place to facilitate the presentation of information.

³ According to the Methodology for calculating the Consumer Price Index, when estimating the effective average prices/tariffs for the provision of natural gas, electricity and thermal energy supply services, etc., the actual price paid by household consumers is taken into account, including subsidies granted by the Government for the payment of energy bills. Thus, for the period February–November 2025, effective electricity tariffs were calculated taking into consideration the subsidies granted by the Government in accordance with Law No. 241/2022 on the Energy Vulnerability Reduction Fund, as well as Government Decisions No. 103/2025, No. 168/2025, No. 218/2025, No. 673/2025 and No. 746/2025 on the approval of electricity subsidies from the Energy Vulnerability Reduction Fund for the specified period.

At the same time, given that as of December 2025 these subsidies are no longer granted to household consumers, the calculation of the Consumer Price Index (CPI) reflects the full level of the regulated tariffs for electricity, as established in accordance with the decisions of the National Agency for Energy Regulation (ANRE).

It should also be noted that energy subsidies granted by the Government for the cold season of the year (for natural gas, thermal energy, electricity or solid fuel) to eligible households, provided in monetary form (which are not reflected in the invoice for the respective energy consumption), are not taken into account in the compilation of the CPI.

⁴ Table 1 includes information on the inflation rate for 3 major groups of goods and services, as well as for some representative groups, aggregated according to the national classification used for the calculation of the CPI:

• the major group 'Food products ' includes milling and bakery products, meat, meat preparations and preserves, fish and canned 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 products" includes cigarettes, fabrics, clothing, knitwear, footwear, furniture, means of transport and auto parts, printed editions, fuels, other goods.
• the major group "Services" includes education services, communal and housing services, public catering, health services, car repair services, transport services, and other services.

⁵ According to the Methodology for calculating the Consumer Price Index, the expenditure weights are estimated by applying the geometric average of the population's monetary expenditure according to the Household Budget Survey and the data on the final consumption of households at the level of COICOP classes from the National Accounts for the year "t-2". Thus, starting with January 2025, the CPI calculations are made using the weighting coefficients calculated based on data for 2023.

⁶ The heading 'vegetables' (in Table 1) includes fresh, frozen and pickled vegetables at the stage of biological maturity, canned vegetables and vegetable by-products and does not include potatoes.

⁷ The heading 'fruit' (in Table 1) includes grapes, other fresh fruit, but excludes frozen fruit, dried fruit and berries, nuts, fruit kernels and edible seeds.

⁸ The heading ”Fuels and lubricants” (in Table 1) includes liquefied gases, solid fuels (charcoal, wood, briquettes, pellets, etc.), diesel, petrol, other fuels for private vehicles, lubricants.

⁹ The heading "medical services" (in Table 1) includes consultations and treatments provided in the medical sector, both outpatient (family doctors, specialists, dentists) and hospital (admissions, surgery, general and specialized hospital services).

¹⁰ COICOP - Classification of Individual Consumption According to Purpose. Section A "Individual consumption expenditure by destination" (divisions 1 to 12) as of January 2021 has been harmonized at category level (5 digits) with the European Classification of Individual Consumption by Destinations (ECOICOP 2013).

¹¹ The 'Health' Division (in Table 2), in addition to outpatient and hospital medical services, also includes pharmaceuticals, medical articles and equipment.

¹² The 'Transport' division (in Table 2), in addition to passenger transport services, also includes the purchase of vehicles, spare parts and accessories, and fuel.

¹³ The ”Communications” Division (in Table 2), in addition to telecommunications services, also includes telephone equipment.

Methodological clarifications:

The monthly inflation rate (monthly inflation) represents the increase in consumer prices in a given month compared to the previous month. It is calculated as the geometric average of the monthly chain-based consumer price indices from which the basis of comparison equal to 100 is subtracted.

The annual inflation rate (annual inflation) represents the increase in consumer prices in a given month of the current year, compared with the same month of the previous year. It is calculated as a percentage ratio between the price index of a month of the current year and the index of the corresponding month of the previous year, calculated against the same base, from which 100 is subtracted.

The average annual inflation rate (average annual inflation) represents the average increase in consumer prices over a year compared with the previous year. This rate is calculated as a ratio, expressed as a percentage, between the average price index of a year and that of the previous year, minus 100.

More methodological details can be obtained in:

• Methodology for calculating the Consumer Price Index in the Republic of Moldova
• Reference Metadata / Consumer Price Index
• Concepts and definitions / Consumer Price Index
• Nomenclature of representative goods and services included in selective research for the calculation of CPI

Additional relevant information:

• Statistical Database / Economic Statistics / Prices / Consumer Price Indices
• Consumer Price Index Calculator
• Consumer Price Index - interactive dashboard
• Calendar for electronic dissemination of statistical information in 2026