Inflation in Ukraine in 2015 could slow to 20.5% from 24.9% in 2014, representatives of business circles polled by the National Bank of Ukraine (NBU) at the end of last year have said.

"In the next 12 months respondents expect that consumer prices will grow by 20.5% on average and linked the growth with the exchange rate (84.3% of respondents) and growth in production expenses (56.3%). The pace of prices on international markets and money supply have the smallest impact on price growth (15.1% and 15.6% respondents mentioned them)," reads a post on the NBU's website.

The poll was conducted from November 14 to December 5, 2014. A total of 976 enterprises were polled in 22 regions of the country.

The NBU said that 82% of respondents predicted the devaluation of the hryvnia to the U.S. dollar in 2015, compared to 81.4% in the previous quarter.

"The average exchange rate of the hryvnia to the U.S. dollar in 12 months is expected at UAH 16.8/$1," reads the report.