NBU improves inflation forecast for 2023
NBU's Governor Andriy Pyshnyy announced this at a briefing, an Ukrinform correspondent reports.
"Given the favorable dynamics of the first half of the year, NBU has significantly improved its inflation forecast for this year from 14.8% to 10.6%," Pyshnyy said.
He explained that price growth will slow down due to a gradual decline in global inflation and still rather tight monetary conditions in Ukraine. NBU will ensure the stability of the foreign exchange market and a sufficient level of attractiveness of hryvnia assets, which will limit price pressure. The unchanged tariffs for most housing and utility services will be important.
According to NBU governor, inflation will continue to decline more slowly than in previous months. This is due to the exhaustion of the comparison base effect, the return of the pre-war level of fuel taxation, and the June increase in electricity prices for household consumers.
In addition, Russian terrorist attacks in southern Ukraine, in particular the explosion of the Kakhovka hydroelectric power plant, will have a certain impact on price dynamics.
In the coming years, the downward trend in inflation will continue, NBU governor added.
"NBU expects inflation to decline to 8.5% in 2024 and 6% in 2025," Pyshnyy said.
As Ukrinform reported earlier, according to the State Statistics Service, prices in Ukraine have risen by 4.6% year to date.
