Inflation to stay above 10% in Q3 – NBU

Inflation will remain above 10% in the third quarter of 2021, but will slow down by the end of the year, according to the NBU press service.

"In Q3, inflation will stay above 10% year-on-year (yoy), but will slow by the end of year. Inflation will reach 9.6% yoy by the end of 2021 and return to its 5% target in H2 2022," the report reads.

Inflation will slow with the arrival of the new harvest, the adjustment of global energy and food prices, and due to the tighter monetary policy conducted by the NBU, in particular through raising its key policy rate and phasing out emergency monetary measures.

At the same time, in July 2021, consumer inflation accelerated to 10.2% yoy, up from 9.5% yoy in June. In monthly terms, prices grew by 0.1%. This is according to data published by the State Statistics Service of Ukraine.

As reported by Ukrinform, consumer prices in July 2021 increased by 0.1% compared to June 2021, 10.2% compared to July 2020 and 6.5% compared to December 2020.

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