ICU investment group predicts inflation of 6.5% in Ukraine in 2021

17:39, 15.09.2020 1 min read

The consumer price index in 2021 may grow by 6.5%, whereas earlier it was predicted to grow by 5.3%, Head of Macroeconomic Research of Investment Group ICU Serhiy Nikolaychuk has said.

"In the fourth quarter, year-over-year inflation will return to the NBU target range. We will end the year at 5.3%, according to our forecast. And in the first quarter [of 2021] inflation will exceed the upper limit of the NBU target range and will remain at this level throughout the year," Nikolaychuk said during the online presentation of the updated macroeconomic forecast on Tuesday.

Inflation next year will be pushed to growth by the weakening of the hryvnia, renewed growth in energy prices and an increase in the minimum wage, he said.