The National Bank of Ukraine (NBU) says the slowdown of year-over-year inflation in November 2016 against the level recorded in October 2016 was due to a decrease in the index of prices of whole foods at a higher pace than it was predicted.
Inflation in November 2016 was 1.8%; while year-over-year inflation slowed to 12.1% in November 2016 against 12.4% in October 2016, according to the NBU.
”Such year-over-year inflation dynamics was predictable and is in line with our forecast, which foresees the growth of the consumer price index in 2016 by 12%,” the Ukraine`s central bank said on Friday, December 9, in a comment on recent statistical reports on inflation.
The current inflation change shows that actual inflation in the country in 2016 will be close to the NBU`s forecast set at 12% plus or minus three percentage points, the NBU said.
As UNIAN reported earlier, inflation, or growth of consumer prices, in Ukraine in November 2016 from October 2016 slowed to 1.8% against 2.8% in October 2016 from September 2016.
Year-over-year inflation in November 2016 slowed to 12.1% from 12.4% over the previous month.
Since the beginning of the year (January through November), consumer prices in Ukraine have increased by 11.4%.