Ukraine's central bank expects consumer inflation will be in line with its forecast / Photo from NBU

"Monetary conditions are sufficiently tough to ensure that consumer inflation will be in line with the National Bank's forecast – 8.9%  year-on-year at the end of 2018," the bank said in a statement, Reuters said.

Read alsoInflation in Ukraine in July 2018 recorded at 8.9% year-over-year

Ukraine's annual inflation slowed to 8.9%  in July from 9.9% in June and 13.7% at the end of 2017, the State Statistics Committee reported on Thursday.

The central bank unexpectedly raised its main interest rate to 17.5% from 17% in June, warning that a number of factors could pose a threat to inflation decreasing to the target level.