Economy 2021-10-15T05:09:34+03:00
Ukrainian news
NBU Improves Forecast Of Inflation Growth From 6% To 4.7% In 2020

NBU Improves Forecast Of Inflation Growth From 6% To 4.7% In 2020

NBU, forecast, inflation

The National Bank has improved its forecast for inflation growth from 6% to 4.7% in 2020.

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

"Inflation will moderately grow further, and this year it will return to the target range of 5% +/- 1 pp. In the second half of 2020, inflation will slightly accelerate (to 4.7% at the end of the year) under the influence of a number of factors of both external and internal origin," it was said.

First, it will be driven by loose monetary and fiscal policies that will mitigate the negative effects of COVID-19 and support consumer demand and business activity.

Secondly, prices will be affected by higher energy prices, as well as lower fruit yields.

During 2021 and 2022, inflation will continue to be within the target range (5.5 and 5%, respectively).

As Ukrainian News Agency earlier reported, the NBU has worsened its forecast for a drop in GDP from 5% to 6% in 2020.

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