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agency does not rule out an additional downgrade to RD (limited default).
4.0 Real Economy 4.1 Industrial production
Industrial Production in Ukraine increased 2.90 percent in January of 2022 over the same month in the previous year. Ukrstat has not released new numbers since then.
4.2 Inflation
Inflation in Ukraine to reach over 30% in 2022. According to the National Bank of Ukraine, the country's GDP is expected to decrease by a third this year amid a full-scale Russian invasion that is causing major losses to the Ukrainian economy. “Inflation will accelerate by the end of the current year and will start to decline in the first quarter of 2023,” the NBU said.
The FAO food price index decreased by 2.3%. In June, compared to May, the food price index calculated by the Food and Agriculture Organization of the United Nations (FAO) decreased by 2.3% to 154.2 points, reported the Ministry of Agrarian Policy and Food. However, the index, which tracks monthly changes in world prices for a basket of food commodities, remained 23.1% higher than in June 2021. The FAO explains that the index’s decrease results from negative dynamics in global prices for vegetable oils, grains, and sugar. However, dairy products and meat have become more expensive.
27 UKRAINE Country Report XXXX 2018 www.intellinews.com