Ukraine: Inflation continues to rise in August, approaches a five-year high
September 8, 2014
In August, consumer prices increased 0.8% over the previous month, which was higher than the 0.4% rise registered in July. August’s increase came on the back of higher prices for food and non-alcoholic beverages, as well as for housing, water, electricity and gas. Conversely, consumer prices for clothing decreased in August compared with July.
Annual inflation jumped from July’s 12.6% to 14.2% in August, which marked the highest rate since September 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 July’s 3.9% to 5.2% in August.