The National Bank of Ukraine (NBU) has confirmed inflation forecasts for this year and next year at the level of 12% for 2016 and 8% for 2017, NBU Governor Valeria Gontareva said in the course of Ukrainian Financial Forum, according to the press service of the ICU group – organizer of the event.
”Increasing utility tariffs will lead to certain acceleration in inflation in the last months of this year. But inflation will remain in the forward boundaries, namely at 12% at the end of the year, and 8% at the end of next year,” the press service quoted Gontareva.
The NBU head also noted that the achievement of inflation targets was entirely realistic, as the market expected some positive factors, namely – high prices for key export position of Ukraine, including steel and iron ore.
”This will ensure the receipt of export proceeds. And a good new crop will gradually compensate for the recent decline in prices for cereals,” Gontareva said, stressing that the restoration of Ukraine`s cooperation with key creditor, the International Monetary Fund, will be no less positive.
As UNIAN reported earlier, Ukraine records a 0.3% deflation in August compared with July, while the decline in consumer prices in a month-over-month ratio is recorded for the third consecutive month. Inflation in August 2016 accelerated to 8.4% year-over-year after 7.9% in the previous month. In January-August, consumer prices in Ukraine rose by 4.5%.