Inflation may renew historical maximum this year - NBU

2011-11-10 16:17:23

Inflation rate by results of 2011 can make up less than 6%, Head of the Group of Advisers to the National Bank Governor Valeriy Lytvytsky told a press conference.

"Inflation rate will be lower against the rate of 8.9%, laid down in the budget. A disinflation trend has been observed. Therefore, a historical minimum may be renewed (2001 - 6.1%). I do not rule out that this year it can be renewed and inflation may be less than 6%," he said.

Lytvytsky also noted that for the first time, the inflation rate will be less than 10% for two years running (in 2010 - 9.1%). He stated that the average inflation value over recent four months made up "minus" 0.4% (-1.3% in July, -0.4% in August, +0.1% in September and 0% in October).

At the same time, the expert named absence of consumer prices inflation in October as unprecedented in the hryvnia history (the lowest inflation over this month was fixed at 0.2% in 2001).

In addition, according to him, if even the government takes a decision about raising tariffs for utility services, the inflation rate will be less than 10% all the same.

Keeping of the disinflation trend is positively influenced by the considerate monetary policy of the National Bank, stable exchange rate, more favorable budgetary policy of the government and the monetary overhang (monetary quantity grew by 11.3% since the year start, last year - by 18.2%), the Head of the Group of Advisers to the NBU Governor summed up.