Ukraine: Inflation jumps in May
June 17, 2019
Consumer prices rose 0.7% month-on-month in May, down slightly from a 1.0% increase in April. According to the Statistical Institute, the deceleration was largely driven by moderating food price growth as well as lower prices for housing, water, electricity, gas and other fuels, which partly offset faster increase in prices for transport.
Inflation jumped from 8.8% in April to 9.6% in May, marking the highest reading so far this year. As a result, it moved further above the Central Bank’s 6.5% plus or minus 2.0 percentage points target range. Nevertheless, annual average inflation continued to trend down, moderating to an over four-year low of 9.3% (April: 9.4%).
Author: Almanas Stanapedis, Economist