Inflation in Ukraine reached the mark of 10%

Инфляция в Украине почти достигла отметки в 10%

In Ukraine in October this year, inflation in annual terms, ie by October 2017, increased to 9.5% from 8.9% at the end of September.

This was reported by the state statistics service on Friday.

Consumer prices in Ukraine, after rising 1.9% in September, in October increased another 1.7% and since early year the growth reached 7.4%.

As reported by stat office, in the consumer market in October, prices for food and non-alcoholic beverages increased by 1.4%. Most (8.8%) grew vegetables. 4.4 a 1.1% increase in the price of bacon, milk and dairy products, bread, eggs, pasta, food grain, oil, rice, fish and fish products. At the same time 4.6% of the fruit fell, by 2.3% – sugar.

Prices of alcoholic beverages and tobacco increased 2.3%, including alcoholic beverages – by 3.2%, tobacco products – by 1.6%.

The growth of prices (tariffs) for housing, water, electricity, gas and other fuels by 0.6% mainly due to increase of tariffs for Sewerage 5.2%, water 4.8%, maintenance of houses and house adjoining territories – 1.4%.

Higher prices for transport as a whole by 3.1%, mainly due to rising costs of fuel and oil by 6% and transport services by 2.4%.

In the communication sector, prices rose by 3.3% due to rise in prices of postal services by 9.4% and mobile communications 6.9%.

Also, recall that on 25 October, the press service of the NBU said that the regulator has raised the inflation forecast for 2018 from 8.9% to 10.1%.

“Given the expected increase in administratively regulated prices, the inflation forecast for the year 2018, upgraded from 8.9% to 10.1%”, – stated in the message.

The national Bank noted that the expansion of consumer demand, high wage growth, the recent rise in oil prices will be displayed on consumer price inflation next year.

As a result, according to forecasts of the regulator, inflation will remain above target for longer than previously expected. By the end of 2019 inflation will decline to 6.3%, calculated at the NBU.

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