The National Bank of Ukraine (NBU) has forecasted a decline in inflation to 6.3% in 2019. NBU officials attribute this downward trend to tight monetary conditions and restrained fiscal policies.
Inflation in Ukraine in April 2019 was 1% compared to 0.9% in March, 0.5% in February and 1% in January, the State Statistics Service of Ukraine has reported. In annual terms the growth of consumer prices in April accelerated to 8.8% from 8.6% in March, returning to the level of February, according to the data.
The rate of inflation was 9.8% in 2018, the best indicator for the past five years following a sharp rise in 2014-15. As inflation drops, Ukraine’s GDP remains on a steady growth trajectory. The country posted a 3.3% GDP increase in 2018, with further growth at a slightly reduced rate expected in 2019.
Underlying inflation in April 2019 decreased to 0.4% after a 1.2% jump in March, and in annual terms to 7.4% from 7.6% in March, 7.8% in February, and 8.3% in January.
As reported, the growth of consumer prices in Ukraine in 2018 slowed down to 9.8% from 13.7% in 2017.
The quarterly forecast of the National Bank of Ukraine assumed the decrease in annual inflation by the end of the first quarter of this year to 8.4%, keeping it at this level in the second quarter with a further decline to 7.7% in the third quarter and 6.3% in 2019.
Sources: https://en.interfax.com.ua/news/economic/586239.html and UkraineInvest