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Inflation rate in Ukraine will be about 7% in 2021, - presidential adviser

Source : 112 Ukraine

According to Ustenko the Ukrainian economy is already recovering from the crisis
19:06, 14 March 2021

Open source

In Ukraine this year the inflation rate will be about 7%. The rise in prices will be primarily caused by the situation in the world markets. This forecast was announced on the air of Ukraine 24 TV channel by president's adviser on economic issues Oleg Ustenko.

According to him, the Ukrainian economy, like the world one, is coming out of the crisis in 2021.

"Therefore, it is not surprising that we will observe a slight increase in inflation. According to the forecast of the state budget, this is about 7%," he said.

According to Oleg Ustenko, inflation will be primarily caused by external factors.

Related: U.S. preparing additional responses to Russia's 'harmful actions', - White House

"When the world economy is recovering, there is an increase in prices for the commodity group. This is the cost of transportation, energy costs, for example, the cost of oil. The second factor is that we live in an open economy, and the grain that we produce, metals, can always be sold outside the country. And it seems like a good harvest that we expect this year - but the price may be higher due to the fact that the demand in the world market is increasing. Add there transportation costs, costs for the industrial group, and you will see inflation of 7%, "the presidential adviser explained.

Ustenko noted that "this is normal inflation," since inflation for the period 2014-2016 "amounted to more than 100%, prices have doubled."

According to the State Statistics Service, the growth of consumer prices in February 2021 compared with the previous month slowed down to 1% from 1.3. In annual terms, inflation accelerated to 7.5%.

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