Inflation will continue to decline gradually towards the end of this year and throughout 2022.
The NBU has said this in a statement, Ukrainian News Agency reports.
It is noted that food inflation will slow down due to both high harvests this year and the correction of world prices in 2022.
"In spring, natural gas prices in Europe are also expected to decline after the end of the heating season. Fundamental pressure will also gradually ease, given the expected slowdown in wage growth next year and the further effect of the measures taken by the National Bank to strengthen monetary policy," the National Bank notes.
One of the main factors in reducing uncertainty is progress in cooperation with the International Monetary Fund (IMF).
At the end of November, the IMF Board of Directors decided to allocate a second tranche to Ukraine in the amount of about USD 700 million (in equivalent) within the framework of the stand by program and to continue its operation.
Further cooperation with the IMF and other official lenders will help implement key reforms and an early recovery of the Ukrainian economy from the coronavirus crisis.
At the same time, the escalation of the military conflict and a longer-than-expected price surge in the world remain the key risks for the economy.
As Ukrainian News Agency earlier reported, the National Bank reported in November this year that the peak in consumer price growth in 2021 has passed and inflation will continue to decline in the future.
In October 2021, consumer prices increased by 0.9%.
In January-October, inflation was 8.5%.
Who we are: About us, Contacts. How we write news and our principles: Editorial code. We did our best. If you found this valuable – please support us.
To request a correction, please send an email.