Ukraine: Consumer prices drop over August 2012
September 6, 2013
In August, consumer prices contracted 0.7% over the previous month, which was an even greater decline than the 0.1% decrease observed in July. Lower prices for food and non-alcoholic beverages as well as for clothing more than offset by slightly higher prices in several categories including alcoholic beverages and tobacco.
On a year-on-year basis, consumer prices dropped 0.4% in August, which followed the flat reading in July. Meanwhile, annual average inflation remained at minus 0.3% in August.
FocusEconomics Consensus Forecast panelists expect inflation to reach 3.2% in 2013, which is down 1.1 percentage points from last month's forecast. For next year, the panel sees inflation rising to 5.6%.
Author: Carl Kelly, Economist