Inflation in Ukraine in May 2015 slowed to 2.2% from 14% in April, 10.8% in March, 5.3% in February and 3.1% in January, the State Statistics Service has said.

According to its data, in annual terms - compared to the same month last year – inflation slowed for the first time in many months - to 58.4% from 60.9% in April, but this is still significantly higher than 45.8% in March and 24.9% last year.

Consumer prices in Ukraine in January-May increased by 40.1%.

The national budget of Ukraine for 2015 is built on the optimistic scenario of development, providing for a fall in GDP of 5.5% with inflation being 26.7%, while the other two scenarios assume a fall in GDP of 8.6% and 11.9% with inflation being 38.1% and 42.8% respectively.

At the same time, the IMF in late May after talks with Ukrainian authorities worsened its forecast for GDP decline in the current year to 9%, inflation - to 46%.