NBU: Inflation continuing to decline in Ukraine

2011-10-25 15:22:58

Consumer inflation in Ukraine in September 2011 fell to 5.9% in annual terms, the press service of the National Bank of Ukraine (NBU) has reported.

In September 2011, inflation stood at 0.1%. In July-September 2011, inflation shrank by 1.6%.

Inflation fell mainly due to the high base of comparison last year (2.9%, a change for September 2010).

This year's good harvest served as an additional factor in the continued reduction in the consumer price index (CPI).

According to the estimates of the National Bank of Ukraine, the deviation of the actual GDP level from its potential level is still negative (-0.8%), which restrains demand-pull inflation.

A slowdown in the annual pace of growth in the consumer price index was also triggered by a fall in prices for raw foods for the fourth consecutive month (-0.9% in September).