Inflation in Ukraine slowed to 2.1% in April - NBU

Inflation in Ukraine slowed to 2.1% in April - NBU

Ukrinform
Consumer inflation in Ukraine in April 2020 slowed to 2.1% year-on-year, the press service of the National Bank of Ukraine (NBU) has reported.

"In April 2020, consumer inflation slowed to 2.1% year-on-year (from 2.3% in March). On a monthly basis, prices rose by 0.8%. Consumer inflation expectedly remained below the target range of 5% ± 1%. However, it was smaller compared to the trajectory of the forecast published in the inflation report for April 2020," the report reads.

Rising prices were constrained by several factors. As before, one of the main factors was a reduction in the cost of energy resources - both oil and gas. Inflation was hampered by declining demand for certain goods and services, as well as a significant supply of vegetables. In addition, the provision of certain services was prohibited during the lockdown, and therefore their prices were not available for observation, so they remained at the level of the previous month. These factors outweighed the impact on prices from the March weakening of the hryvnia and the agitated demand in the first half of April for certain goods due to the spread of the coronavirus pandemic and lockdown restrictions.

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