Photo: NBU Press Center
According to the forecasts of the National Bank, prices will not rise so rapidly in the future
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The peak of inflation in the country was passed in September 2021, and since October it has been gradually slowing down.
In Ukraine, consumer inflation in December 2021 increased compared to 2020 to a four-year maximum of 10%. About it informs press service of the NBU.
According to the forecasts of the National Bank, prices will not grow so rapidly in the future.
It is noted that the acceleration of inflation in 2021 was a global trend, primarily due to the rapid recovery of economic activity after the coronavirus crisis against the backdrop of supply chain disruptions associated with quarantine restrictions. This led to a rise in the price of energy, raw materials and components. Additional pressure on prices also led to increased emission control measures. Relevant global factors also influenced the acceleration of inflation in Ukraine.
In addition, inflation in Ukraine was fueled by internal factors – stable consumer demand, which was supported by the growth of household incomes and improved consumer sentiment, as well as an increase in production costs, in particular for wages.
As noted in the NBU, the peak of inflation in the country was passed in September 2021, and since October it has been gradually slowing down.
It is noted that the strengthening of the hryvnia throughout most of the year, record harvests, the weakening of price pressure on certain world commodity markets, administrative restrictions on tariffs for housing and communal services for the population and the strengthening of the monetary policy of the National Bank contributed to the slowdown in consumer price growth.
It is reported that the National Bank will continue to adhere to the inflation targeting regime and use monetary instruments to achieve a medium-term inflation target of 5%.
Earlier it was reported that the National Bank raised the discount rate due to inflation.
Maximum for 4 years: inflation accelerated in Ukraine
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