The National Bank intends to review its forecast for 2017 after its monthly inflation in September was 2.0%, from the beginning of the year – 10.2%, according to NBU’s comments, ET reports.
“The new forecast of inflation and temporary horizon of returning inflation to the target, using monetary instruments, will be announced as per results of NBU’s Board session on the monetary policy on October 26, 2017”, according to NBU comments.
Reportedly, in late January, 2017, the National Bank corrected the inflation forecast for the current year from 8% to 9.1% with a targeted level of this indicator within the range of 8%+/- 2 percentage points and retained this forecast, only noting the growing risks of its non-fulfilment.
According to NBU expectations, the inflation in the year-on-year basis should return to the single-valued level in the fourth quarter of 2017.
According to the State Statistics, the consumer prices in Ukraine in September 2017 versus August increased by 2.0%. From the beginning of the year (until December 2016), the prices increased by 10.2% in Ukraine.
According to the draft state budget for 2018, the inflation should slow down up to 7% in the next year in Ukraine.
