NBU downgrades inflation forecast from 8.4% to 8.7% in 2025

The National Bank of Ukraine (NBU) has downgraded its inflation forecast from 8.4% to 8.7% by the end of 2025.

This is announced in the NBU's statement, Ukrainian News Agency reports.

Inflation will return to a decline in the summer and slow down to a single-digit level by the end of the year.

According to the NBU's forecast, in the summer, annual price growth will begin to slow down for a wide range of goods and services.

The expected increase in harvests will contribute to a decrease in food inflation from the third quarter of 2025 and its stabilization at a relatively low level in the future.

Fundamental inflationary pressure will gradually subside under the influence of the NBU's monetary policy measures, an improvement in the electricity supply situation, and more moderate pressure from the labor market.

In addition, an additional factor will be a decrease in oil prices due to trade conflicts in the world.

As a result, inflation will decrease to 8.7% at the end of 2025, and to the target of 5% in 2026.

As Ukrainian News Agency earlier reported, in January of this year, the National Bank worsened the inflation forecast from 6.9% to 8.4% by the end of 2025.