Andrey Pyshny believes that prices will be more affected, in particular, by the further recovery of consumer demand.
The National Bank predicts that the growth of consumer prices in Ukraine in the coming months will be moderate. However, inflation will accelerate in the second half of the year. This was said by the head of the National Bank of Ukraine Andrey Pyshny during the United News telethon.
“(Over) the next few months, inflation will be in a relatively safe range of 4 to 6%… The NBU predicts that by the end of 2024, inflation will be 8.6%,” the official said.
According to him, the NBU macro forecast for 2024-2026 indicates that inflation will accelerate from the middle of the year due to the exhaustion of the effects of last year’s high yields. Additionally, a further recovery in consumer demand and a shift in business costs to consumer prices will affect prices, especially given the still high security risks and rising wages.
“By the end of 2023, inflation at the level of 5.1% is actually the goal that the NBU, as the institution responsible for monetary policy, recognizes for itself as a specific inflation target. But since the beginning of the war , we abandoned inflation targeting and moved to anti-crisis management. We leave the discount rate at 15% exactly so that inflation, which may accelerate during 2024, is controlled and reaches its goal in 2025, “said Pyshny.
As we wrote earlier, the amount of cash foreign currency imported by Ukrainian banks in December 2023 reached $1 billion 330 million. This is the highest volume since February 2014 ($3 billion 208 million).
What are the bankers’ forecasts for this year and what are their plans?
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.