The National Bank has improved its inflation forecast from 9.7% to 9.2% in 2025.
This is stated in the materials of the NBU, Ukrainian News Agency reports.
It is noted that the NBU's monetary policy is aimed at reducing inflation to the 5% target on the policy horizon.
The slowdown in inflation will be facilitated by the transfer to consumer prices of the effects of this year's vegetable and grain harvests, further increase in harvests, which is assumed by the NBU forecast, and monetary policy measures aimed at maintaining interest in hryvnia assets and the stability of the foreign exchange market
The NBU also expects a partial reduction in labor market imbalances over the forecast horizon, which will result in a slowdown in real wage growth and, accordingly, an easing of pressure on corporate costs.
At the same time, the slowdown in inflation will be restrained by additional costs incurred by companies to ensure uninterrupted operation in the face of energy shortages and high rates of increase in administratively regulated prices.
The NBU forecasts that inflation will decline to 9.2% in 2025, to 6.6% in 2026, and to the 5% target at the end of 2027.
As the Ukrainian News agency earlier reported, in September 2025, consumer prices increased by 0.3%.
In January-September 2025, inflation was 6.4%.
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