Inflation reached 7.5% - how will product prices change

The National Bank of Ukraine predicts a moderate increase in inflation in the coming months, but expects prices to stabilize next year. NBU Chairman Andriy Pishnyi said this during a briefing, noting that inflation will increase due to several key factors, but will gradually return to the target level of 5%.

The main reasons for the increase in prices in the coming months are the expansion of aggregate demand due to the increase in budget expenditures, the increase in business costs for labor and electricity, as well as the increase in excise taxes. However, Pyshnyi emphasized that the balanced monetary policy of the National Bank and the reduction of external price pressure will help to slow down inflation.

Accounting rate and inflation

The Board of the National Bank decided to keep the discount rate at the level of 13%, which, according to the head of the NBU, will contribute to the gradual return of inflation to the target level of 5% in the coming years. This decision also supports the stability of the foreign exchange market, which is an important element for controlling inflationary processes.

According to the State Statistics Service, in August 2024, inflation accelerated to 7.5% on an annual basis, which is close to the forecasts of the NBU. Compared to July, inflation increased by 0.6% in August, and by 4.9% since the beginning of the year.

What has increased in price the most?

August showed a significant increase in prices for some products. The prices of eggs (by 7.1%) and vegetables (by 5.2%) increased the most. At the same time, fruit prices decreased by 7.4%. The increase in consumer prices in August is due to this year's worse harvests, rising costs of food raw materials, energy, wages, and the impact of the weakened hryvnia exchange rate.

Forecasts for the future

Despite the short-term increase in inflation, the National Bank expects that it will gradually decrease to the target of 5% in the coming years. This will be achieved thanks to the reduction of external price pressure, control over the currency market and stabilization of the economic situation in the country.

spot_imgspot_imgspot_imgspot_img

popular

Share this post:

More like this
HERE

Gluten myth: The study showed that it is not worth it

Patients with irritable bowel syndrome (SPC) who follow gluten -free ...

Exputate and his family may lose property because of suspicion of illegal enrichment

Specialized Anti -Corruption Prosecutor's Office (SAP) appealed to the Supreme Anti -Corruption Court ...

The court took custody of the former KSCA official: suspected of stealing 75 million

The Solomenskyi District Court of Kyiv chose a measure of restraint for the former director ...

Zaluzhuzhly moving his wife on his birthday: "I became part of you"

Former Commander -in -Chief of the Armed Forces, and now the Ambassador of Ukraine in the Great ...

Frauds with forests, drones and coal: a series of criminal cases in Lviv region

The prosecutor's office exposed large -scale abuse in the Lviv region. As...

In Kiev, rescuers removed the ring from a woman's finger: helped to avoid injury

On Friday, July 25, in the Obolon district of the capital fighters ...

Large -scale real estate scam in Kiev: Among the suspects - former people's deputy

Prosecutors of the Prosecutor General's Office declared suspicion to four participants of the organized ...

Russian troops press under Kupyansk and move in the Donbass, the Armed Forces released the village in Sumy region

The situation on the front remains tense: Russian troops have intensified the offensive ...