NBU: Consumer inflation expected to decline to 8.9%

NBU: Consumer inflation expected to decline to 8.9%

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Ukrinform
Consumer inflation in Ukraine is expected to gradually decline to 8.9% by the end of the current year.

Chairman of the National Bank of Ukraine (NBU) Yakiv Smoliy stated this during a briefing, an Ukrinform correspondent reports.

“The effect of the tight monetary policy has been the strongest in the exchange rate channel, with the hryvnia having strengthened since the end of January 2018. Consumer inflation will continue to decline gradually. In line with the NBU forecast, it will make 8.9% as of the end of 2018 and will return to its target range in mid-2019,” said Smoliy.

However, he noted that this forecast will remain relevant only if its key assumption is implemented, which is the sustained progress in structural reforms, particularly under the IMF’s Extended Fund Facility.

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