Consumer price index in July confirms risk of inflation growth by late 2017 beyond targeted range - NBU
The National Bank of Ukraine (NBU) has confirmed its fears regarding inflation growth by late 2017 beyond the target range after the State Statistics Service published statistics for July.
"The pace of general consumer price index and its elements shows that risks that inflation would deviate from the central point of the target range at the end of this year have strengthened compared to the July forecast. This happened despite of the fact that the fundamental inflation pressure will remain moderate," the central bank said on its website.
The NBU said that the target for inflation in 2017 is 8% plus minus 2 percentage points.
As reported, inflation in July slowed to 0.2% compared to 1.6% in June, 1.3% in May and 0.9% in April. Since early 2017, inflation reached 8.2%.
In annual terms consumer prices in July accelerated to 1.9% from 15.6% in June, 13.5% in May and 12.2% in April.
Underlying inflation in June was 0.1% compared to June and 7.3% in annual terms.