Inflation expectations down to 13.6% - NBU poll

2011-10-14 14:14:12

Inflation expectations for the following 12 months in Q3 made up 13.6% on average against 14.5% in Q2, 2011, a quarterly poll says, held among heads of enterprises by the National Bank of Ukraine in August.

"Growth of consumer prices, according to respondents, is mainly caused by growth of production costs, in particular, prices for energy carriers. Influence of the hryvnia exchange rate fluctuation and actions of the National Bank of Ukraine on inflation processes is estimated as low," the statement reads.

At the same time, the share of respondents reduced, which are not expecting a change in the hryvnia rate against the U.S. dollar and euro.

According to survey returns, a balance of expectations for the economic growth in the following 12 months grew by 1.7 percentage points to 10.9%.

In addition, for the first time over recent 12 quarters, respondents positively estimated current financial-economic status of its enterprises, a balance of expectations grew and made up 4.3% against expectations (-2.9%) in Q2, 2011.

At the same time, index of business expectations of enterprises in Q3 reduced and was 119.1% against 120.2% in the previous quarter.

"Respondents noted increased toughening of terms for getting bank credits and expected a growth of needs in the loan funds in the following three months. The use of credit resources by enterprises is mostly hampered by high interest rates on credits, at the same time, influence of a factor of rate fluctuations is not high," poll results say.

In the NBU survey, 1,250 enterprises participated from all the country regions, which present the economy by all types of activities, ownership forms and sizes by the number of workers.