Ukraine Inflation July 2016


Ukraine: Inflation picks up in July after bottoming out in June

August 11, 2016

In July, consumer prices fell 0.1% over the previous month, which followed June’s 0.2% increase. July’s result marked a second consecutive monthly drop.

Inflation reached a peak of 60.9% in April 2015 due to a drastic depreciation of the national currency and began an almost uninterrupted downward trend from then onwards, which seems to have bottomed out in June this year. Inflation rose from 6.9% in June—the lowest since April 2014—to 7.9% in July, suggesting that inflationary pressures are abating. Annual average inflation eased from 34.5% in June to 30.6% in July.

FocusEconomics Consensus Forecast panelists expect inflation to end 2016 at 12.3%, which is down 0.7 percentage points from last month’s forecast. For 2017, the panel sees inflation easing to 8.9%.

Author: Angela Bouzanis, Senior Economist

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Ukraine Inflation Chart

Ukraine Inflation July 2016

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

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