The national Bank of Ukraine (NBU) has decided not to revise the inflation forecast for 2017. The financial institution is convinced that the cessation of the movement of goods across the demarcation line in the Donbas will not affect the growth of prices in the current year. This is stated in a statement posted on the NBU website.
“The blockade of trade with ORDO will not have a significant impact on the level of consumer inflation in 2017-2018 Therefore, the national Bank does not expect significant changes in forecasts of inflation (9.1 percent in 2017 and 6.0% in 2018). The effects of rising food prices on the world commodity markets will be offset by slower growth in administratively regulated tariffs and declining pressure on prices from aggregate demand”, – stated in the message.
News on topic: Inflation in Ukraine in February has decreased to 1% – state statistics service
Earlier it was reported that the national Bank of Ukraine has lowered the forecast of growth of gross domestic product (GDP) in 2017 from 2.8% to 1.9% due to a temporary cessation of movement of goods across the line of differentiation on Donbass.
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