The National Bank of Ukraine (NBU) has downgraded its inflation forecast from 6.9% to 8.4% for the end of 2025.
This is announced in the NBU statement, Ukrainian News Agency reports.
Due to the exhaustion of temporary factors of price pressure and the NBU's interest rate and exchange rate policy measures, inflation will slow down to 8.4% in 2025 and to the target of 5% in 2026.
Inflation is likely to continue to grow in the first months of 2025 due to the continued impact of both temporary factors, in particular the effects of lower yields last year, and fundamental factors, in particular pressure from business production costs.
Inflation will peak in the second quarter and begin to decline from mid-year.
Inflation is expected to slow to 8.4% by the end of 2025, and to the target of 5% in 2026.
This will be facilitated, in particular, by the National Bank's interest rate and exchange rate policy measures, as well as higher yields, an improvement in the energy sector, a reduction in the fiscal deficit, and moderate external price pressure.
As Ukrainian News Agency earlier reported, consumer prices increased by 12.0% in 2024.
Inflation was 1.4% in December.
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