Peak of price growth passes - NBU
The price pace in April-June will be defined by the increase in the tariffs for utility services and the exchange rate fluctuations, the National Bank of Ukraine (NBU) has said.
"Data collected by the Economic Development and Trade Ministry of Ukraine every ten days allow saying that the peak of price growth has passed. According to our calculations in the past ten days of March a fall in the prices of food [by 0.6% in ten days] was seen," reads the NBU report, a copy of which has been sent to Interfax-Ukraine.
NBU said that restricted internal demand, low inflation in countries that are trade partners of Ukraine, stabilization of global prices of grain and other raw materials at the low level would retain growth of prices.
"Active anti-inflation monetary policy would also promote the development of the downward inflation trend," reads the report.
As reported, inflation in Ukraine in March 2015 was 10.8% compared to 5.3% in February. In annual terms (compared to the same month last year) inflation accelerated to 45.8% from 34.5% at the end of February.
According to the report, the central bank has reacted to the current price pace.
"The increase of the refinancing rate and toughening of administrative restrictions had their effect – the chaotic character of devaluation was stopped," reads the report.
"Unfortunately, prices are falling more slowly than they increase, and we see a splash in the prices," NBU said.