Forex forecasts decline in inflation in Ukraine

27.12.2017 р., 13:00

The level of inflation in Ukraine in 2017 was the highest among the countries of Europe and the CIS.

This is evidenced by data from the annual research of the Forex Club Information and Analytical Center in Ukraine, Ukrinform reports.

"Consumer prices in Ukraine since the beginning of the year increased by 13.6%, while the average growth rate in Europe was 2.6%, in the CIS countries - 6.7%. This increase in inflation is due to higher wage, energy and investment programs, which increased the costs of companies that were eventually carried on the end user, "the report said.

According to the Forex Club, adverse weather factors and low yields of some groups of fruits and vegetables were added to these reasons. Hryvnia devaluation in September only exacerbated inflationary pressures.

"For the third year in a row, we are fixing high inflation rates. The price growth rates have significantly slowed down from 43.3% in 2015, but accelerated compared to 12.4% in 2016. Nevertheless, we expect that next year inflation will not exceed 10 - 10,5% ", notes Andriy Shevchyshyn, senior analyst at Forex Club.

Related News