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Ministry of Economic Development to publish inflation data monthly

Source : 112 Ukraine

In 2019, consumer inflation slowed to 4.1%
18:26, 22 January 2020

Open source

Ministry of Economic Development, Trade and Agriculture will publish inflation data monthly to inform the public about price trends. This is stated on the Ministry’s website.

In 2019, consumer inflation slowed to 4.1%.

"The key factor that created a deflationary impact on all domestic prices (both consumer and price indicators of the entire real sector of the economy) was the strengthening of the hryvnia against foreign currencies," the statement said.

The Ministry notes that prices for most commodities included in the core and non-core inflation have slackened in their growth. In 2019, industry prices hit a record decline - 7.4%.

Related: Inflation in Ukraine: Forecast for foreseeable future

As we reported earlier, money transfers to Ukraine from labor migrants, record harvests, as well as increased demand for national bonds could be the main reasons for strengthening of the hryvnia. Representative of the International Monetary Fund (IMF) in Ukraine Gosta Ljungman talked about it in an interview with the Espresso TV Channel.

"It is difficult to determine the main factor that led to this. Yes, there is a continuation of a rather significant inflow of funds from Ukrainians who are in search of money abroad. The prices for traditional Ukrainian export goods are high while the prices of Ukrainian imports - for the same gas - have decreased,” Ljungman stated.

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

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