Hungary's CPI falls to 4.2% in April as food price controls take effect
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The National Bank of Ukraine (NBU) upgraded its economic outlook for the country’s growth for the third time this year on October 26, increasing its growth forecast to 4.9% for the year 2023 as well as predicting inflation will fall to 5.8%, Interfax Ukraine reports. (chart)
The GDP growth projection for next year has also been improved from 3.5% to 3.6%. However, higher inflation is expected in 2024 of 9.5% as opposed to the previous estimate of 8.5%.
In late July the NBU also raised its GDP growth forecast for Ukraine in 2023 from 2% to 2.9%, compared to the initial projection of 0.3% made in January. Simultaneously, the forecast for GDP growth in 2024 was lowered from 4.3% to 3.5%.
At the same time the NBU said inflation this year will come in at 10.6%, significantly less than the previous expectation of 14.8%.
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