Inflation Moldova 2023
Average inflation: 14.0%
Current Inflation
Inflation is very high at 14.0%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 27.3%. The lowest inflation was in December at 4.2%.
- Highest month
- January: 27.3%
- Lowest month
- December: 4.2%
- Difference
- 23.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 37.6%. The lowest price increase was in Food with an average of 13.8%.
- Highest increase
- Energy: 37.6%
- Lowest increase
- Food: 13.8%
Historical Context
Current inflation is 2.7% higher than the 5-year average of 11.3%.
- 5-year average
- 11.3%
- 10-year average
- 8.7%
- All-time high (2022)
- 28.6%
- All-time low (2009)
- 0%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -14.6 percentage point.
- Change vs. previous year
- -14.6 percentage points
- Largest monthly swing
- October: -28.3 percentage points
ECB Target
Inflation is 12.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €114.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 27.3% | +10.7 |
| February | 25.9% | +7.4 |
| March | 22.0% | -0.2 |
| April | 18.1% | -9.0 |
| May | 16.3% | -12.7 |
| June | 13.2% | -18.6 |
| July | 10.8% | -22.7 |
| August | 9.7% | -24.6 |
| September | 8.6% | -25.4 |
| October | 6.3% | -28.3 |
| November | 5.5% | -25.9 |
| December | 4.2% | -26.0 |
| Average | 14.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.