Price pressure will persist in the coming months.
Low crop yields, deteriorating quality of vegetables and fruits, as well as the rapid depletion of stocks since last year are contributing to higher food prices.
This was reported by Deputy Head of the NBU Serhiy Nikolaychuk.
The National Bank admits that by the end of the current year, inflation in the country will exceed 10%. Consumer inflation in Ukraine is 9.7%.
“Inflation will probably be slightly higher than forecast – above 10%, and next year we expect it to slow down to about 7% and reach the target of 5% in 2026,” he said.
Among the reasons for the price increase, he named a smaller harvest and, as a result, higher prices for food, problems in the energy sector and higher wages.
He also added that the scenario of Ukrainian economic growth by 4% in 2024 and by 4.3% next year remains relevant, given the results of the elections in the United States.
We remind you that the day before, the NBU reported that in the coming months a further acceleration of inflation is expected due to an increase in business costs for wages and electricity, an increase in excise taxes and the effects of the pass-through of the hryvnia devaluation.
And experts reported that food prices will rise in Ukraine in the near future. Read more about this in news.
