Underlying inflation in Ukraine in January 2016 reached a zero after being 0.4% in December, 0.7% in November, 0.8% in October and 3% in September 2015, the State Statistics Service has reported.

According to the agency, in annual terms underlying inflation slowed to 31.3% in January 2016 from 34.7% in 2015.

Underlying inflation does not include short-term irregular changes in prices influenced by various factors of an administrative, event-based or seasonal character. For instance, it does not include changes to prices of food and energy.

Underlying inflation in Ukraine in 2015 reached 34.7% after 22.8% in 2014 and 0.1% in 2013

Consumer prices in Ukraine grew by 43.3% last year compared to 24.9% in 014 and 0.5% in 2013, and in January 2016 inflation of 0.9% was recorded.

Ukrainian authorities forecast that GDP will grow by 1.1-2% with inflation of 12%.