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Ukraine expects surge in inflation in early 2021, - Economy Ministry

Source : 112 Ukraine

As of now, the price dynamics is in the projected trend
12:59, 30 September 2020

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The Ministry of Economic Development, Trade and Agriculture expects the inflation in Ukraine to rise in early 2021. This was reported in the review of inflation for August 2020, published on the ministry's website.

It is noted that now the price dynamics is in the projected trend (5.9% at the end of the year) and corresponds to the general trend of positive economic development.

"In the future, we should expect that the process of gradual saturation of the economy with money in order to revive it, obviously, will create more significant pressure on price dynamics due to the cumulative effect, which is likely to be significant only at the beginning of the next year," the statement said.

Related: Ukraine's Economy Ministry improves its inflation forecast for 2020

As we reported earlier, according to the National Bank of Ukraine (NBU), the volume of private money transfers to Ukraine from abroad in the period from January to August 2020 amounted to 7.168 billion dollars.

That is 493 million dollars less than for the same period in 2019 (7.661 billion dollars).

Thus, since the beginning of the year, 2.27 billion dollars have been transferred to Ukraine through informal channels. and through international payment systems - 1.45 billion dollars.

Related: Ukraine needs restart after Covid-19 pandemic, - Finance Minister

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