October inflation at 2.9% is the biggest monthly showing over the last seven years – expert

17:48, 07 November 2007
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The previous high inflation was recorded in June of 2000 (3.7%)

The October inflation at 2.9% is the biggest monthly showing over the last seven years.

Chief of BTA Bank informational-analytic center Borys Bordiuh disclosed this to an UNIAN correspondent.

According to him, the monthly growth of consumer prices higher than that of October was recorded in June of 2000 (3.7%).

B.Bordiuh stressed that there is a number of short and long-term factors, which caused the inflation growth since June of 2007. In his opinion, the main inflation-causing factor was that since the year 2004, due to the permanent political struggle, the state has been trying to rise social standards, which were not backed with the adequate economic growth. “This policy is one of the main reasons of worsening the country’s trade balance and the current high inflation”, B.Bordiuh said.

As UNIAN reported earlier, Ukraine’s inflation made up 2.9% in October of the current year, compared with September, and 11.7% during January-October, compared to December of the last year. This is the data of the State Statistics Committee of Ukraine, posted at the web site of this institution.In line with the information of the Committee, the inflation in October of 2007, compared to October of 2006, made up 14.8%, during January-October of 2007, compared to January-October of 2006 – 12.2%.

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