Inflation in Ukraine continues to accelerate, with prices expected to increase by at least 31% by the end of the year.
In August, annual inflation in Ukraine reached 23%. Such preliminary data was published by the National Bank on Thursday, September 8.
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“In July and August, inflation accelerated as expected. According to preliminary estimates of the NBU, last month it reached about 23%. However, the overall price dynamics was more restrained than predicted by the National Bank. First of all, due to faster than expected reduction in the cost of fuel and slower growth of prices for some vegetables,” the central bank said.
Deputy head of the NBU Serhiy Nikolaychuk noted that the inflationary pressure is high, especially because of the consequences of the war, especially the destruction of production facilities and disruption of logistics.
“Deteriorating inflation expectations also strengthen this pressure, the July correction of the Hryvnia exchange rate, which, however, is necessary to maintain economic stability, has an additional effect,” he added.
The official assured that the inflationary processes will continue to be managed.
According to National Bank forecasts, consumer prices will increase by 31% by the end of 2022.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.