Inflation accelerates to 7.5% in February - NBU

11.03.2021 13:29

Ukrinform

Consumer inflation in Ukraine in February accelerated to 7.5% in annual terms, due to a higher-than-expected rise in food and fuel prices, the press service of the National Bank of Ukraine (NBU) reported.

"In February 2021, annual consumer inflation accelerated to 7.5% (from 6.1% in January). In monthly terms, prices rose by 1%," reads the report.

Actual consumer inflation accelerated above the projected trajectory published in the January 2021 Inflation Report issued by the NBU. This was primarily due to the more significant than expected rise in prices for certain foods and fuels.

At the same time, rising inflation was restrained by the introduction of a marginal price for natural gas. The fundamental inflationary pressure, expressed in terms of core inflation, was close to the National Bank's forecasts.

Core inflation accelerated (to 5.6% year-on-year from 5% year-on-year in January). The growth rate of prices for processed food products rose (to 7.2% year-on-year).

As reported by Ukrinform, the National Bank projects that inflation at the end of 2021 will stand at 7%.

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