Inflation in Pridnestrovie not to exceed 5% limit in 2021

09/21/21 18:45

Inflation in Pridnestrovie not to exceed 5% limit in 2021

No price spikes could be expected in autumn

Tiraspol, September 21. /Novosti Pridnestrovya/. The inflation rate in Pridnestrovie may be within the range of 4-5% by the end of this year. This outlook is provided by the Ministry of Economic Development of the PMR in its analytical report.

According to the authors of the report, no price spikes could be expected in autumn. In the remaining months, a moderate increase in the general price level within 2% is most likely.

The Ministry of Economic Development recalls that in January-August 2021, inflation in the republic amounted to 2.9%. Specialists of the Department of Macroeconomic Analysis of the Ministry of Economic Development pay attention to the global increasing trends in the market of non-food products, which also affect Pridnestrovie.

“The increase of oil prices against the background of the recovery of world economies returned the cost of fuel on the Pridnestrovian market (+ 17.6% over 8 months) to the pre-crisis parameters,” the report says.

In addition, this year, prices for medicines and building materials have risen in the PMR, while the latter is particularly evident.

As for the food sector, the supply of vegetables of the next harvest to the market in sufficient quantities led to the fact that almost entire "borscht mix" fell in price in August. Deflationary processes were also observed for seasonal fruits and berries.

“Thus, in August, plums and watermelons could be bought twice as cheap as in July; the average price mark also decreased for such items as pears (-39.0%), melons (-34.5%), peaches (-14.8%),” the MED report says.

At the same time, there are food products that have risen in price, while sunflower oil has been the leader here for a long time. The price increase for it has reduced in recent months, but still maintains an upward trend.

An important factor restraining the level of inflation in Pridnestrovie remains the state policy aimed at keeping the cost of utilities stable for the population. Including due to this, inflation in service segment amounted to 1.5% in January-August, which is the lowest value for the last 4 years, the Ministry of Economic Development of the PMR notes.


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