17:29 09.06.2020

Inflation in Ukraine slows to 0.1% in May, to 1.7% y-o-y

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Inflation in Ukraine slows to 0.1% in May, to 1.7% y-o-y

Consumer prices in Ukraine in May 2020 increased 0.3%, while in March and April they rose by 0.8%, the State Statistics Service said on Tuesday.

In May 2019, price growth was higher – 0.7%, therefore, inflation in April 2020 year-over-year slowed to 1.7% from 2.1% in April, 2.3% in March, 4.1%.

According to the State Statistics Service, underlying inflation in May this year fell to 0.1% from 0.4% in April and the jump to 1.3% in March, whereas before that it had been falling for three consecutive months. Last May, underlying inflation was at the level of 0.2%, as a result, year-over-year it slowed down to 3%.

The National Bank of Ukraine at the end of January improved its inflation forecast for 2020 from 5% to 4.8%, but in April it worsened this indicator to 6%.

According to the central bank, in the first half of this year, inflation in annual terms will be 4.8%.

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