17:38 09.09.2019

Deflation in Ukraine stands at 0.3% in Aug – statistics

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Deflation in Ukraine stands at 0.3% in Aug – statistics

Consumer prices in Ukraine after falling in July 2019 by 0.6% in August fell by another 0.3%, and in annual terms inflation in August fell to 9% from 9.1% in July, the State Statistics Service of Ukraine has said.

According to its data, deflation in Ukraine in June 2019 amounted to 0.5%, while in May inflation was fixed at 0.7%, in April some 1%.

Underlying inflation in August was minus 0.1% compared with 0.1% in July.

Since the beginning of the year, consumer prices in Ukraine have grown by 2.7%, while underlying inflation was 2.1%.

As reported, consumer price growth in Ukraine in 2018 slowed to 9.8% from 13.7% in 2017.

The quarterly forecast of the National Bank of Ukraine assumed a decrease in annual inflation by the end of the first quarter of the current year to 8.4%, keeping it at this level in the second quarter with a further decrease to 7.7% in the third quarter and 6.3% in 2019.

At the end of July, the central bank confirmed its inflation forecast of 6.3% for this year, but worsened the forecast for underlying inflation to 5.5% from 5% in the April report, while improving expectations for non-underlying inflation to 7.6% from 8.1%.

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