Moldova's inflation rate hits 7.3% as food prices soar
The cost of food staples in Moldova has increased compared to last year, according to the National Bureau of Statistics (NBS).
The price of groceries has risen by nearly 9% over the past year, while clothing, footwear and fuel prices have increased by just 2%.
The sharpest increases were for basic food items. In the year to August, fruit prices jumped by 31% and vegetables by 18%. Vegetable oil is up 16%, with milk and dairy products rising by 7%. Bread prices have increased by 3.7%.
People interviewed for this report say they are watching their spending.
“Everything is expensive. Last spring, there were frosts and if there's no harvest, what can you do? It was cheaper last year.”
“Tomatoes grown locally are cheap, but vendors add their own mark-up. They buy them for five lei and sell them for ten.”
Vegetables and meat have seen particularly significant price rises. A kilogram of tomatoes can reach 25 lei, while cucumbers can cost up to 30 lei per kilo. Sweet peppers are cheaper at 15 lei per kilogram. Meat prices have gone up by an average of 10%. Merchants offer several explanations.
“It's bell pepper and chilli pepper season now. The work is a lot, prices are low, so it doesn't cover our costs.”
“I wouldn't say vegetable prices have gone up. With 100 lei, you can still buy tomatoes, cucumbers, carrots, onions, and everything you need.”
“People are limiting themselves to one or two kilos at most.”
“Beef prices have risen slightly. Brisket costs 75 lei per kilo, shoulder 110 lei and hip 140 lei. This is because there is a lack of beef in Moldova; the local population does not raise cattle.”
“Prices have increased by 10%. I wouldn't say they are very high.”
Official statistics show that in August, Moldova's annual inflation rate was 7.3%. However, the Ministry of Economic Development and Digitalisation notes that monthly trends indicate a visible slowdown in price rises. Nonetheless, Moldova is still far behind European Union countries, where the annual inflation rate has stabilised at 2.4% – approaching the European Central Bank's 2% target.
Translation by Iurie Tataru
