Ukraine: Inflation continues to rise in September, reaching highest rate in over five years
October 7, 2014
In September, consumer prices increased 2.9% over the previous month, which was higher than the 0.8% rise registered in August. September’s increase came on the back of higher prices for transportation, as well as for clothing and footwear. Conversely, consumer prices for housing, water, electricity, gas and other fuels decreased in September compared with August.
Annual inflation jumped from August’s 14.2% to 17.5% in September, which marked the highest rate since March 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 August’s 5.2% to 6.7% in September.