Ukraine Inflation


Ukraine: Inflation continues to accelerate in October

November 7, 2014

In October, consumer prices increased 2.4% over the previous month, which was below the 2.9% rise registered in September. October’s figure came on the back of higher prices for clothing and footwear, as well as for food and beverages. Conversely, consumer prices for transportation decreased in October compared with September.

Annual inflation rose from September’s 17.5% to 19.8% in October, which marked the highest rate since February 2009. As a result of the acceleration in recent months, along with developments in the political sphere and in the foreign exchange market, inflation has risen further above the Central Bank’s 4.0%–6.0% target range for 2013–2014. Meanwhile, annual average variation in consumer prices increased from September’s 6.7% to 8.3% in October.

FocusEconomics Consensus Forecast panelists expect inflation to rise further before the end of the year and see it ending 2014 at 18.4%, which is up 0.4 percentage points from last month’s forecast. For 2015, the panel sees inflation easing to 8.3%, which is up 0.1 percentage points from last month’s projection.

Author: Angela Bouzanis, Senior Economist

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Ukraine Inflation Chart

Ukraine Inflation October 2014 0

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: State Statistics Service of Ukraine.

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