The national Bank assures us that inflation is “significantly slowed down”
The national Bank assures us that inflation is “significantly slowed down”
© UNIAN
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Index for the month decreased by 1.4%.
In may inflation in Ukraine is 11.7%. A month earlier, in April, it was 13.1%. That is, prices are rising, but not so fast.
“In may 2018 consumer inflation has slowed down to 11.7% in annual terms (compared to 13.1% in April). On a monthly measurement of the price index has not changed (compared with an increase of 0.8% in April),” – said national Bank, citing data from the State statistics service.
The regulator notes that the inflation rate was influenced by the rapid deceleration of price growth on food products. This was facilitated by including weather conditions in the spring were not frost. Also begun to import into Ukraine of imported products.
Not as fast as in April, growing administratively regulated prices due to the slowdown in the rising cost of tobacco products and moderate than last year, increase of tariffs for housing and communal services.
See also:
National Bank has simplified the foreign money transfers
Positively on inflation was also affected by the tight monetary policy of the NBU, which has manifested itself primarily through the strengthening of the hryvnia exchange rate since the end of January 2018.
At the same time, as in previous months, remained pressure on prices from the increase in production expenses, particularly labor costs, as well as rapid recovery of consumer demand.
Core inflation in may slowed to 9.3% in annual terms. In contrast to the previous two months, the annual rate of core inflation was slightly below the forecast of the National Bank.
The regulator expects a further gradual reduction in consumer inflation according to the forecast (8.9% y/y at end-2018) and its return to the target range in mid-2019.
Meanwhile, the head of the NBU Yakov Smoliy call the conditions for strengthening the hryvnia.
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