Ukraine Gate – Kyiv – June 2, 2022- National Bank of Ukraine Governor Kirillo Shevchenko stated that despite the gradual recovery of the Ukrainian economy, the trend towards accelerating inflation will prevail in the coming months.
“In the coming months, the trend of accelerating inflation will remain, despite the gradual resumption of production,” Shevchenko said.
The chief banker noted that inflation rose in April to 16.4% year on year, according to preliminary estimates of the National Bank, in May this year, inflation continued to accelerate due to disruption of trade operations and logistics.
“The sure revival of economic activity, the gradual adjustment of logistics, and the increase in supply for both domestic producers and importers have slowed the wave of inflation, and relatively low demand and a surplus of agricultural raw materials have constrained high prices,” Shevchenko said.
The head of the NBU has added war-torn production and logistics inflation, and high global energy prices remain an important pro-inflationary factor, putting pressure on consumer inflation directly and indirectly – due to higher production costs.
