Expensive energy sources will remain significant factors in accelerating inflation, in particular food inflation, according to the National Bank.
Gasoline in Ukraine has increased in price by 66% this year, and will continue to increase in price by up to 20% annually. This was stated in the National Bank’s October inflation report, published on Friday, October 28.
“The increase in the price of energy resources remains one of the main factors in the growth of the value of energy-intensive goods. This is confirmed by the increasing influence of the factor “energy price” in the formation of future prices of businesses,” the report said.
It was noted that expensive energy sources also affect the cost of production of non-food products, in particular, building materials and glass products, which, as a result, directly or indirectly affects general inflation. Significant factors in price growth remain high risk and business costs, which intensified in winter due to expensive energy resources.
“The pass-through effect of high fuel prices will continue in the future, predetermining, in particular, the increase in the cost of transport services. This will fuel general inflation,” added the NBU.
Recall that inflation in Ukraine approached 25% in annual terms. Consumer price growth has accelerated for three consecutive months.
Earlier, the Ministry of Economy assured that it is not worth waiting for hyperinflation in Ukraine, despite the ongoing war.
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Source: korrespondent
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