Ukraine: Inflation declines further to fresh eight-year low
December 7, 2011
In November, consumer prices added 0.1% over the previous month, slightly exceeding the flat reading recorded in the previous month. The subdued monthly price increase was mostly the result of higher prices for transportation as well as for clothing and footwear. Moreover, food prices that dropped 0.3% in October remained flat in November. Annual headline inflation maintained the downward trend that began in July, falling further from 5.4% in October to 5.2% in November. The figure represents the lowest level since May 2003 and contrasted market expectations that had inflation rising to 5.7%. The government expects inflation to close this year at 8.9% and then to fall to 7.9% next year.