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Central bank forecasts inflation at 9.6% in 2021

The National Bank of Ukraine keeps the inflation forecast for 2021 at 9.6%.

NBU Governor Kyrylo Shevchenko said this at a briefing on Thursday, October 21, according to an Ukrinform correspondent.

"According to our expectations, consumer prices will reach their maximum growth in September-October this year. In the future, the inflationary trend will turn downwards and at the end of the year inflation will slow to 9.6%," Shevchenko said.

He noted that in the future, inflation will slow due to a low base of comparison, a favorable situation in the foreign exchange market, and this year's high crop yields.

Read also: NBU keeps main interest rate unchanged

The growth of consumer prices will also be restrained by previous steps taken by the central bank to strengthen monetary policy - optimizing its operational design, curtailing anti-crisis monetary measures and raising the main interest rate.

"In 2022, we expect it [inflation] to fall to 5%," Shevchenko said.

The Ukrainian Finance Ministry earlier projected that inflation should not exceed 10% this year.

op

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