High inflation pressure retains
The National Bank of Ukraine (NBU) has said that high inflation pressure retains.
"Despite the easing of pressure on food prices, fundamental inflationary pressures remain high amid sustained consumer demand. In addition, the faster growth in fuel prices and high wage growth rates have stimulated an increase in administratively-regulated prices," the NBU said, commenting on inflation in August.
The NBU will announce the new inflation forecast, taking into account these factors, after the meeting of the board on monetary issues on October 25, the central bank said.
As the regulator said, inflation in August was close to the forecast trajectory of the National Bank of Ukraine, published in the latest "Inflation Report" for July 2018 and drawn up, taking into account the assumption of an increase in gas tariffs.
"At the same time, if you subtract the component of the tariff increase from the July forecast, August inflation slightly exceeded the expectations of the central bank, primarily due to higher than expected growth of other administratively regulated prices and fuel prices," the NBU said.