15:55 14.08.2019

Low inflation will be observed in next month or two – Danylyshyn

2 min read
Low inflation will be observed in next month or two – Danylyshyn

The next month or two will be characterized by low inflation, Bohdan Danylyshyn, Chairman of the Council of the National Bank of Ukraine (NBU), believes.

"Given the fact that in late summer and early autumn, the supply of fruits and vegetables in Ukraine noticeably increases, and also due to the hryvnia revaluation effect, it is logical to assume that in next month or two will be characterized by low inflation (if there are no unforeseen circumstances)," Danylyshyn wrote on his Facebook page.

At the same time, he noted that the slowdown in consumer inflation and the transition to lower prices in the middle of the year is becoming a trend.

"This had been observed from May to September last year, and in May-July 2019 we see it again," he said.

According to him, from October inflation in Ukraine, as a rule, accelerates, which is associated with a gradual decrease in the supply of vegetables and fruits.

"If September payments on external debt (tentatively estimated at $1.7 billion) are carried out without complications, and there are sufficient prerequisites for this, the influence of the exchange rate factor on consumer inflation won't be significant," the banker said.

According to the State Statistics Service, deflation in Ukraine in July amounted to 0.6% compared to June of this year, while inflation at a level of 9.1% was recorded in annual terms (July 2019 from July 2018).

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