Ukraine again sees inflation after two months' deflation

Consumer prices in Ukraine resumed growth in September 2015 after a decline for two months in a row, according to the State Statistics Service.

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In September 2015, Ukraine saw 2.3% inflation compared to August 2015, when there was 0.8% deflation after 1% deflation in July 2015.

When measured in annual terms (September 2015 to September 2014), inflation slowed to 51.9% from 52.8% in the previous month.

Consumer prices in Ukraine increased by 41.4% January through September 2015.

Power rates in September 2015 from August 2015 grew most, by 24.9%, while footwear prices increased by 21.5% and those of clothes by 16.4%. Eggs went up in price by 9%.

The most significant increase in September 2015 from September 2014 was demonstrated by prices of natural gas (by 5.5 times), prices of sunflower oil (by 78.5%) and soft drinks (by 71.9%).

Prices of the following staples fell in September 2015 from August 2014: sunflower oil became cheaper by 1%, pasta by 0.6%, fish by 0.4%, and bread by 0.2%.

None of the groups of consumer goods and services in September 2015 saw a decline in prices year-over-year.

As UNIAN reported earlier, Ukraine saw deflation for the second consecutive month in August 2015, amounting to 0.8% compared to July 2015.

Inflation in August 2015 slowed to 52.8% year-over-year, from 55.3% recorded in the previous month.

Since the beginning of the year, January through August, consumer prices in Ukraine increased by 25.5%.

The Cabinet of Ministers considers three scenarios of economic developments in Ukraine in 2015: the low-case scenario with an 11.9% GDP decline amid 42.8% inflation, and two base-case scenarios with a GDP decline between 5.5% and 8.6% and inflation between 26.7% and 38.1%.

The National Bank of Ukraine in turn forecasts that GDP may decline by 11.6% in 2015 amid 44% inflation.

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