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Inflation rate in Ukraine reaches 0.2% in January

Source : 112 Ukraine

Prices for food supplies, alcoholic, and non-alcoholic beverages, utilities, and tobacco have increased
18:44, 10 February 2020

Focus

In January, inflation rate in Ukraine amounted to 0.2%, compared to December 2019, and compared to January 2019 - 3.2%. It was reported by Ukraine’s State Statistics Service.

Food and non-alcohol prices increased by 0.5%. Price for egetables and fruits went up by 6.6%; dairy products, beef, cereal products, milk, cheeses, soft drinks, and bread - by 1.4-0.3%; eggs, sugar, pork, rice, fish and sunflower oil fell by 1.5-0.3%.

Prices of alcohol and tobacco increased by 0.8%. Clothing and footwear fell by 5.6%.

The cost of utilities increased by 1.7% and the prices of transport decreased by 0.7%.

Related: Low inflation is also harmful to country: Proven by Ukraine

As we reported earlier, the National Bank of Ukraine (NBU) changed its estimation of the medium-term nominal neutral interest rate in Ukraine from 8% to 7% per annum, Interfax informed.

"This was the result of a revaluation of the equilibrium real exchange rate of hryvnia. Today, the structural characteristics of the Ukrainian economy are in line with a stronger equilibrium exchange rate than it was previously expected," stated in the inflation report, which was published on Friday.

According to new estimates, the NBU has the potential to reduce the discount rate more significantly than previously expected - up to 7%.

Related: Ministry of Economic Development to publish inflation data monthly

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