The National Bank of Ukraine (NBU) improved the inflation forecast from 8.6% to 8.2% for 2024 and expects it to be fixed in the target range of 5% ± 1 pp in the following years.
This is stated in the message of the NBU, Ukrainian News Agency reports.
As before, the NBU predicts a moderate increase in inflationary pressure this year in view of the expected exhaustion of the effects of the previous year's larger harvests, the further recovery of consumption and the increase in business costs in war conditions.
At the same time, taking into account the better actual inflation dynamics and the improvement of inflation expectations, the inflation forecast for the end of this year was lowered from 8.6% to 8.2%.
In the following years, inflation will return to the target range of 5% ± 1 pp and will remain within its limits.
This will be facilitated both by the gradual normalization of the conditions for the functioning of the economy, and by the weakening of external inflationary pressure, as well as by successive monetary policy measures of the NBU.
Inflation is expected to slow down to 6% at the end of 2025, and to 5% at the end of 2026.
As Ukrainian News Agency earlier reported, in March 2024, consumer prices rose by 0.5%.
In January-March 2024, inflation was 1.2%.
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