Ukraine: Inflation accelerates to 20-month high in December
January 6, 2014
In December, consumer prices increased 0.5% over the previous month, which was up from the 0.2% rise registered in November. The result mainly reflected an increase in prices for food and non-alcoholic beverages as well as for alcoholic beverages and tobacco.
Annual inflation rose from 0.2% in November to 0.5% in December, which marks the highest rate since April 2012. Despite the record high registered by annual inflation, it remains well below the Central Bank's 4.0%-6.0% target range for 2013-2014. Meanwhile, annual average variation in consumer prices remained at November's minus 0.3%.
FocusEconomics Consensus Forecast panelists expect inflation to end 2014 at 4.7%, which is down 0.2 percentage points from last month's forecast. For 2015, the panel sees inflation rising to 5.8%.