Russian (CIS)English (United Kingdom)

Кредиты в гривне на погашение валютных кредитов, полученных в других банках

Свежая запись:
Свежая запись:
Календарь публикаций
< 06/2019 >
Пн Вт Ср Чт Пт Сб Вс
          1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Ukraine: Inflation rate slowed down (October 2011)

The consumer inflation continued to decrease in annual terms, during October (to 5.4%, from 5.9% in October). In October, the consumer price index did not change, however it went down by 0.6% considering the seasonal factor.

As it was in previous months, a considerable impact on the alteration of the consumer price index (CPI) was made by offer factors (change in non-basic CPI was minus 0.7%, contribution to CPI alteration – minus 0.3%).


Cheapening of a food products group because of their high share in the CPI structure stifled growth of consumer prices index.

A growth of non-basic CPI in annual terms slowed to 2.8% (reaching its maximum value of 17.1% in June). Thanks to a high yield of agricultural crops among non-basic CPI components, prices for vegetables, fruits and sugar reduced most of all in October (-6.2%, -3.1% and -11.9% respectively). The October landslide of prices for sugar determined the fall of the component “administratively regulated prices” by 1.2% (contribution to the CPI – minus 0.2%, annual growth was 11.8%). The last-month trend kept on: prices for grits and flour also went down.

Thus, raw products in annual terms cheapened by 3.9% ( a -0.5% change for a month). Besides, prices for the food group “milk, cheese and eggs” went up on a seasonal basis (up 3.8%; contribution to the change in CPI – 0.2%).

A price hike for fuel continued (up 0.4% monthly; the fuel inflation increased to 38.3% in annual terms).

In October, the basic CPI upturn was 0.6% (contribution to the change in CPI was 0.3%), which corresponds to an average level of the basic inflation for the past two years. A narrow basic CPI went up to 0.4% (or 2.9% in annual terms) for account of the price advance for clothes, footwear and some household goods.

The basic inflation kept on decelerating in annual terms (to 7.8%) and at present it is within the limits of a targeted value at the end of 2011 (7.9%, pursuant to the memorandum with the IMF).

Impacted by the decrease in external demand on products manufactured by major export oriented plants, and by the price decline in production and energy, gas and water distribution, there occurred a decrease in consumer price index by 1.8% in October, which resulted in the deceleration of its growth in annual terms to 16.3%. That was the first decline in the CPI for the past 11 month; with the previous one occurring in November 2010.

At the same time, the Ministry of Economic Development and Trade of Ukraine prepared and published a consensus forecast for principal macroeconomic indicators summing up the state of the Ukrainian economy. The consensus forecast was prepared with participation of an expert panel comprising representatives of the Ministry of Economic Development and Trade of Ukraine, Minister of Finance of Ukraine, Institute for Economics and Forecasting at the National Academy of Sciences of Ukraine, Scientific and Research Economic Institute, Institute for Economic Research and Political Consultations, National Institute of Strategic Research, Institute of Evolutionary Economics, International Prospective Research Center, and companies CASE Ukraine, Raiffeisen Bank Aval, OTP Bank, the Bleyzer Foundation and Forex Club.

Apart from other indicators, they published an average growth forecast for the consumer price index in 2011. As for December/December, the forecast was 9% (the value varies from 7.9% to 11.2%), which is 2 percent lower from August this year pursuant to the previous consensus forecast.

An average consumer price index for 2012 (December/December) reduced to 8.6%, down 0.3% from the August consensus forecast (the index varies from 7.5% to 10.5%).

It stands to mention that the content of the consumption basket used by the State Statistics Service of Ukraine for calculating the consumer price index used to be criticized by Ukrainian media and economics experts. Media used to publish growth forecasts for the consumer price index at a level of 10-22% following 2011 results, which failed to be confirmed by statistics research. In particular, ex-Minister of Economy of Ukraine Viktor Suslov published a forecast, pursuant to which the CPI growth – following 2011 results – could make up over 15%.

The content of the consumption basket for calculating the consumer price index was revised by the State Statistics Service of Ukraine in 2007 last. In 2012, its content will be revised again, and it will include – for the first time ever – such products and services as, e.g., dwelling lease, car insurance, diesel fuel, notebooks, air conditioners, nurse services, one-use diapers, etc.

Source: National Bank of Ukraine, State Statistics Service of Ukraine and the Ministry of Economic Development and Trade of Ukraine

Разместить в:
Кредит на онлайн покупки от КредитМаркет    Кредиты НАЛИЧНЫМИ    Кредит под залог авто от КредитМаркет