National Bank of Ukraine says inflation growing as projected

The dynamics of inflation in October, which accelerated to 2.8% to the previous month and up to 12.4% year-over-year, is in line with expectations of the National Bank of Ukraine (NBU).

According to the regulator, the annual core inflation in October was 6.5% remained almost unchanged compared with September.

According to the NBU, the increase in prices of raw food products accelerated to 4.5% in annual terms under the influence of supply factors.

The growth of administratively regulated prices and tariffs accelerated to 30.1% y-o-y mainly due to the start of the heating season. Fuel prices have accelerated growth to 16% y-o-y as a result of higher oil prices on world markets.

The National Bank also said that the growth in producer prices significantly accelerated in October, up 29.2% y-o-y, which was primarily due to increase in electricity tariffs for industrial consumers.

As UNIAN reported earlier, inflation in October 2016 accelerated from 7.9% recorded the previous month to 12.4% y-o-y, surpassing the target of the National Bank of Ukraine of 12% set for year-end.

Inflation (growth of consumer prices) in Ukraine in October 2016 compared to September accelerated to 2.8% from 1.8% recorded in September to August.

From the beginning of the year, in January-October, consumer prices rose by 9.4%.

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