NBU confirms inflation dynamics according to its forecast

NBU confirms inflation dynamics according to its forecast

In October 2016, headline inflation was recorded at 2.8%, the press service of the National Bank of Ukraine (NBU) reports.

 In annual terms, headline inflation accelerated to 12.4%, but the inflation dynamics was expectable and met the NBU's forecast.

Meanwhile, core inflation was 6.5% during this period (in monthly terms, the core consumer price index increased by 0.9%) and remained rather unchanged in contrast to September. In particular, growing prices for non-food products, mainly imported ones, slowed down thanks to a decline in inflation expectations, moderate effects of the Ukrainian currency devaluation in August-September on consumer prices and a high comparative base.

A rise in prices for raw food products accelerated to 4.5% in annual terms (2.9% in monthly terms), which was mainly caused by supply-side factors. Egg prices were rising rapidly thanks to their extensive exports to the Middle East in recent months. An increase in prices for meat and meat products (excluding pork) was expectable as a result of decreasing livestock numbers and growing production expenses.


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