NBU explained the acceleration of inflation in September

НБУ пояснил ускорение инфляции в сентябре

Inflation in Ukraine in September at 8.9% in annual terms, was higher than the forecast of the National Bank of rising fuel prices.

This is stated in comments of the National Bank.

“Core inflation in September remained at the level of the previous month (8.7 percent year-on-year), while growth in fuel prices accelerated to 22.7% in annual terms against the background of rapid rise in world oil prices and the weakening of the hryvnia,” – said the NBU.

As the regulator, inflationary pressure remains high due to strong domestic demand, rapid wage growth and a sharp rise in price of oil on world markets.

Inflation in September 2018 in annual terms compared to September 2017 — amounted to 8.9%, against 9% a month earlier.

The national Bank forecasts inflation at the end of 2018 at the level of 8.9%, which almost matches the government’s forecast of 9%.

The international monetary Fund and the world Bank expected inflation in Ukraine this year at 9% and 10% respectively.

We will remind, the world Bank predicts a slowdown in inflation in Ukraine in 2019 to 7.3% and in 2020 to 6.5%.

As noted in the publication, the national Bank of Ukraine pursues a policy of inflation targeting, however, its level remains high due to the increase of salaries and pensions. He reached the end of 2017 13.7% and therefore, he was higher than the benchmark, the NBU amounted to 8±2%.

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