Producer prices in Moldova show limited impact on inflation
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Outlet prices are not yet pushing down inflation

In April, in annualized terms, producer prices of industrial products increased by 1.1%, according to official statistics, and by 0.4% for the month. This means that the pressure on inflation is mainly exerted by external factors and the service sector, rather than local production.
Irina Covalenco Reading time: 1 minute
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inflation

Since the beginning of the year, domestic selling prices even show a slight decrease (-0.2%). Although price growth in Moldova accelerated in April, it was dictated by the rise in the price of imported energy resources, fuel and transportation, not by the domestic selling prices of producers.

The dynamics of selling prices by sectors shows that the extractive industry showed the highest growth – prices increased by 2.5% (in annual terms the sector grew by 5.5%). In the manufacturing industry prices increased by 0.7% (in annual terms – growth by 2.4%). The energy sector showed a decline in selling prices: producer prices decreased by 4.0% (since the beginning of the year and in annual terms the decline amounted to 12.8%).

At the end of April, the authorities abolished restrictions on trade markups for socially important goods, which the National Bank of Moldova considers as one of the steps to absorb supply shocks and prevent the inflationary spiral from unwinding.

The impact of producers’ selling prices on inflation can be predicted by the producers’ costs of raw materials, energy (intermediate goods), which affect the cost of production, costs and, ultimately, retail prices. The dynamics by direction shows what exactly is in demand or where producers are forced to reduce their margins.

Thus, according to statistics, in April since the beginning of this year, producer prices in the sector of intermediate goods (excluding energy) increased by 2.2%, in the sector of consumer goods – by 0.6%, in the sector of capital goods – by 0.4%, and in energy-related activities and goods prices decreased by 12.7%. At the same time, prices in the durable goods industry remained at the December 2025 level.



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