Macroeconomic Forecast Moldova

According to the National Bureau of Statistics, the Moldovan consumer price index (CPI) fell 0.7% y-o-y in November down from declines of 1.6% in October and 2.3% in September. This improvement in the headline print has come primarily from the foodstuffs component of the index, where deflation only came in at 5.4% in November, improving from the 8.2% fall posted in September. With non-foodstuff and service components both showing small inflationary gains in November, we hold to our forecast for inflation to continue rising in 2010 to 3.0% by end-year.

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