The consumer price index is expected to grow by 19% by the end of 2014, InterBusinessConsulting has reported, with reference to the press service of the National Bank of Ukraine (NBU).
“The National Bank of Ukraine estimates the devaluation of the hryvnia to the U.S. dollar on the interbank market in January-August at 66.9% and therefore forecasts the acceleration of inflation this year to 19%,” reads the statement.
The reduction of the exchange rate, the growth of administratively regulated prices and tariffs as a result of urgent economic reforms, as well as the worsening of market expectations, have influenced the price dynamics, the central bank said.
“The growth of the consumer price index in annual terms in August rose to 14.2% compared to 0.5% in December 2013. It is expected that at the end of the year the consumer price index will grow by 19% in annual terms,” reads the document “The principles of monetary policy for 2015,” which was approved by the NBU.
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