Expert says food price hikes and budget deficit behind inflation in Ukraine now.

The expert lists two key inflation drivers / Photo from UNIAN

The expert lists two key inflation drivers / Photo from UNIAN

An expert says food price hikes and the deficit of the national budget are behind inflation in Ukraine now.

This opinion was shared by Director of the Institute for Development of Territories Yuriy Hanushchak on TV Channel Ukraina 24.

Read also Consumer inflation in Ukraine slows to 8.4% in April 2021

According to him, the National Bank "did what it had to do," i.e. it raised the key policy rate, so now prices have slowed.

"We must be aware that Ukrainians spend a huge part of their money on food, prices are objectively growing. Therefore, our inflation has been growing faster than in other countries. And another source of inflation that will surely give a blow is an exorbitant budget deficit. Most likely, they will start printing more money," the expert said.

Earlier, the State Statistics Service announced that consumer inflation in Ukraine in April 2021 in annual terms, compared to April 2020, was 8.4%, slowing down from 8.5% in March 2021.

Other related news reports

Translation: Akulenko Olena

Unian

Read the top-news of politics in Ukraine and the world, the latest political news from the UNIAN news agency.

https://www.unian.info/

Related news
Ransomware Criminals Targeted in Ukrainian Police Raids.

Ransomware Criminals Targeted in Ukrainian Police Raids.

Police video shows cash and luxury goods being seized in an operation against the Cl0p gang, responsible for hacking organizations in the U.S. and South Korea.» Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of inn...

FACT CHECK: ‘Zero Evidence’ for Novel Coronavirus Lab Leak? Not so Fast.

FACT CHECK: ‘Zero Evidence’ for Novel Coronavirus Lab Leak? Not so Fast.

On May 26, U.S. President Joe Biden released a statement calling on the intelligence community “to redouble their efforts to collect and analyze information” that could allow a “definitive conclusion” on the origins of SARS-CoV-2, the virus behind...

Watch Joe Biden discuss his meeting with Russia's Putin.

Watch Joe Biden discuss his meeting with Russia's Putin.

President Joe Biden had one single and simple goal at his press conference in the wake of his summit with Russian President Vladimir Putin in Geneva: Project absolute and utter normality. Did Biden engage in any threats? No, he said. Was there hyp...

Fox News' Peter Doocy asks President Biden if he'll press China for COVID origin probe.

Fox News' Peter Doocy asks President Biden if he'll press China for COVID origin probe.

President Biden answers Fox News’ Peter Doocy’s question on whether he’ll discuss the origin of COVID with Chinese President Xi. #FoxNews Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is a 24...

BREAKING: Biden - 'Putin doesn't want a new cold war'.

BREAKING: Biden - 'Putin doesn't want a new cold war'.

Joe Biden and Vladimir Putin have met in Geneva, with Mr Biden saying Russia did not want 'a new cold war' SUBSCRIBE to our YouTube channel for more videos: Follow us on Twitter: Like us on Facebook: Follow us on Instagram: For more content go to ...

Biden takes questions before leaving Geneva

Biden takes questions before leaving Geneva

"The country has put a different face on where we've been and where we're going," the president said before departing.