NBU explained the reasons for the price growth in September

НБУ объяснил причины роста цен в сентябре

The NBU said the reasons for price growth in September

The national Bank noted that inflationary pressure remains high, despite easing food inflation.

Inflation in annual terms in September was lisepornosu of the national Bank, including due to the fuel prices. On Wednesday, October 10, reported on the website of the NBU.

It is noted that inflationary pressures remain high, despite easing food inflation. High rate of price growth supported by strong domestic demand, rapid wage growth and a sharp increase in oil prices on world markets.

“The growth rate of prices for services fell in September. Further pressure from cost increases, in particular labor costs, and consumer demand led to the acceleration of growth of cost of services provided personal care, leisure, tourist, medical services and the like. At the same time, the continued slowdown of cost of catering services, primarily due to the lower growth of prices for food products,” informed the NBU.

The press service noted that the rise in prices for raw foods in September has slowed, in line with the forecast of the National Bank.

“The price of fruit is expected to deepen the fall due to the high yield of apples and other fruits and berries. Continued decline in prices of vegetables: dropping the pepper and eggplant, as well as continued fall in the price of cucumbers, beans and garlic. And at the same time, the accelerated growth of prices for vegetables borsch set due to the delayed harvest of the late varieties of these crops may be attributed to high rainfall in September. In addition, the accelerated growth of prices for flour, it influenced the cost of bakery products”, – stated in the message.

The Ministry said that the growth rate of the administratively regulated prices has declined and was below the July forecast due to the delay of increase of tariffs for gas for the population.

“In September slowed down the growth of prices for alcoholic beverages and tobacco prices. At the same time keeping the administrative pressure on prices due to accelerating wage growth and fuel prices. In particular, high growth in the value of transport services increased acceleration of the rising cost of travel in taxis. In addition, since September 10, were increased the tariffs for services of postal communication”, – reported in the NBU.

The national Bank added that the rise in fuel prices increased, driven by the rapid increase in world oil prices and the weakening exchange rate of the hryvnia.

Recall that consumer prices in September rose by 1.9%.

It was also reported that the national Bank made a quarterly forecast of inflation for next year.


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