: :inin Kyiv (EET)

Ukraine sees deflation for 2nd consecutive month


Deflation (decline in consumer prices) was recorded in Ukraine for the second consecutive month calculated on a month-to-month basis, the State Statistics Service reported on its website.

Deflation of 0.1% was recorded in July as compared to June, after a decline of 0.2% in June as compared to May.

According to the report, in annual terms, inflation in July 2016 accelerated to 7.9% year-over-year (y-o-y) as compared to 6.9% recorded in the previous month.

Since the beginning of this year, January through July, consumer prices in Ukraine increased by 4.8%, the service said.

According to the data, the highest increase in July was recorded in prices of hot water and heating (8.1% as compared to the previous month). Prices of eggs grew by 3.9%, and those of fruits were up by 2.7% in the reporting month.

In annual terms, the sharpest increase was recorded in prices of hot water and heating (76.9%), electricity (56.4%), footwear ( 22.4%).

The steepest decline in July, as compared to June, was recorded in prices of vegetables (20.1%), footwear (4%), clothing (3.3%).

In annual terms, the largest decline was recorded in prices of vegetables (17.8%), eggs (11.5%), fruits (6.5%).

The report does not include data from the Russian-occupied Crimea and the Anti-Terrorist Operation zone in Donbas.

As UNIAN reported earlier, Ukraine in June 2016 saw a deflation of 0.2% as compared to May, after an inflation of 0.1% in May as compared to the previous month.

In annual terms, inflation in June 2016 slowed down to 6.9% y-o-y, from 7.5% recorded in the previous month.

The National Bank of Ukraine predicts a slowdown in headline inflation in Ukraine to 12% by the end of 2016. The International Monetary Fund forecasts inflation at 15.1%, and the World Bank – at 15%.

UaPositon

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