Page 13 - UKRRptNov21

4.2 Inflation
Inflation in Ukraine accelerated to 11% in September reported open4business. The year-over-year growth of consumer prices in Ukraine in September 2021 increased to 11% from 10.2% in August 2021. According to the Statistic Service of Ukraine, after deflation of 0.2% in August, inflation was recorded at 1.2% in September this year, while in September last year, inflation was 0.5% The National Bank of Ukraine forecasted inflation in September-October at the level of 10-11% with a further decline below 10%.
Inflation will slow down to a single-digit rate of 9.6% by the end of 2021
stated the quarterly Inflation Report of the National Bank of Ukraine. After the peak in the September-October period, the rate of inflation will begin to slow down and at the end of 2021 will be 9.6%. In 2022, it will fall to the target of 5% and will be close to this level in the future. Ukraine's real GDP will increase by 3.1% by the end of the year. In the future, the economy will grow at a rate of about 4% annually.
4.2.1 CPI dynamics
Annual inflation in Ukraine accelerated to 11.0% y/y in September from 10.2% in the previous month, driven mostly by food and clothing prices, State Statistics Service reported on October 8. Ukraine’s consumer prices increased 1.2% m/m in September after declining 0.2% m/m in August.
Food prices increased 1.1% m/m in September after declining 0.7% m/m in August. In particular, prices for eggs jumped 13.6% m/m, prices for vegetables increased 3.0% m/m, milk prices increased 1.9% m/m. At the same time, prices for fruits dropped 3.4% m/m, prices of sunflower oil declined 0.9% m/m,
13 UKRAINE Country Report November 2021 www.intellinews.com