May Inflation Exceeds Level Expected By NBU

The National Bank of Ukraine notes that the inflation dynamics in May exceeded central bank's earlier estimated figures.

The NBU has said this in a statement, the Ukrainian News Agency reports.

Core inflation in May sped up suddenly in May to 6.5% year over year (0.3% month over month).

However, it was lower the forecast thanks to improvement of inflation expectations against the background of hryvnia exchange rate strengthening.

Core inflation speeding-up took place in view of secondary effects from increase of prices for raw materials and further reflection of costs growth in prices.

The growth of prices for raw foodstuff sped up to 13.8% year over year (4.7% month over month).

In May, producer price index slowed down to 27.1% year over year (-1.3% month over month).

As Ukrainian News Agency earlier reported, in May 2017, consumer prices grew by 1.3%.

In the first five months of 2017, inflation made 6.2%.