Ukraine's economy ministry expects 13.4% inflation in 2017

"In January-November, inflation was 12.5% amid the weakening of the hryvnia by 1.9%. We expect a 13.4% inflation rate by the end of the year," Titarchuk said at a press conference in Kyiv on December 21.

Read alsoUkraine's central bank to review inflation forecastIn turn, Deputy Minister of Economic Development and Trade Maksym Nefyodov noted that the deregulation of food prices had not affected the acceleration of inflation.

"We do not see that the deregulation has significantly affected the inflationary processes," he said.

As UNIAN reported earlier, the National Bank forecast inflation in Ukraine in 2017 at 12.2%. According to government estimates, inflation in 2017 will stay at 11.2%. The consumer price growth is expected to slow down to 9% next year.

Ukraine's key lenders – the International Monetary Fund and the World Bank – forecast a 10% inflation in 2017.