The National Bank has worsened the inflation forecast from 8.2% to 8.5% in 2024.
The NBU has said this in a statement, the Ukrainian News agency reports.
"Furthermore, inflation will accelerate, but it will begin to decline already next year. Price pressure will persist in the coming months due to further increases in business costs, increases in excise duties, as well as the exhaustion of the effects of last year's significant harvests and the negative impact of the summer drought on this year's yields. Preliminary estimates of inflation in July confirm its further acceleration," it says.
At the same time, as the regulator notes, inflation will remain moderate - 8.5% at the end of the year according to the updated NBU forecast.
This, in particular, will be facilitated by the NBU's measures to protect hryvnia incomes and savings of the population from inflation and ensure the stability of the currency market.
The further effect of the moratorium on the increase of residential and communal tariffs for gas, heating and hot water will also have a restraining effect on prices.
The NBU's interest rate and exchange rate policy, as well as the weakening of external inflationary pressure, will make it possible to slow down inflation already in 2025 - to 6.6%.
In 2026, inflation will return to the NBU's target of 5% against the background of the gradual normalization of the functioning of the economy and further improvement of the situation in the energy sector.
As the Ukrainian News agency earlier reported, in June 2024, consumer prices rose by 2.2%.
In January-June 2024, inflation was 4.3%.
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