CPI inflation in Ukraine quickens to 10.9% y/y in May.

By bne IntelliNews June 9, 2014

In May, the CPI inflation in Ukraine accelerated to 10.9% y/y, the State Statistics Service has announced. In m/m terms, CPI inflation grew to 3.8% from 3.3% in April. Inflation was 10.5% in Jan-May. In May, prices for foodstuffs and soft drinks rose by 3.6%, for clothes and footwear by 0.4%, for municipal services by 12.8%, for health care services by 3.1%; and for education services remained unchanged.

The devaluation of national currency led to an increase in most of the prices.  The further price adjustments can be expected in the near month, as gas prices will go up by around 50% in line with IMF demands. Ukraine recorded CPI deflation of 0.3% y/y in 2013. Deflation of 0.2% was observed in 2012; inflation of 4.6% in 2011 and 9.1% in 2010.  

The NBU expects inflation of 12-16% in 2014, Head of the National Bank Stepan Kubiv said. According to him, the final inflation indicator this year will depend on efficiency of steps in reformation of economy, on rapidness of attraction of external resources by Ukraine, as well as on rapidness of restoration of inter-sector balances in economy. Another factor influencing on the inflation indicator called was the restoration of trust of business and citizens in the financial system.

Related Articles

EU to fund feasibility study on Slovakia’s proposed Eastring gas link to Balkans

The EU has agreed to help fund a feasibility study on the Eastring pipeline project, which would link Slovakia to the Balkan markets, Slovak transmission system operator Eustream announced on May 26. ... more

Ukraine's central bank cuts key policy rate to 12.5%

The National Bank of Ukraine (NBU) will cut its key policy rate by 0.5 percentage points to 12.5% per annum from May 26. The move is consistent with the pursuit of inflation ... more

Ukraine prosecutors launch anti-graft crackdown on former tax officials

Ukrainian anti-corruption agencies, specifically, military prosecutors and the National Police, have conducted over 400 raids as part of a massive anti-corruption crackdown on former tax ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss