Ukraine not inferior to US, China and Europe in terms of inflation rate
2012-04-09 17:19:02
Inflation in Ukraine in annual terms has not only reached its unprecedentedly low level in the history of the hryvnia (since 1996), but also does not exceed the standards of developed countries, Valeriy Lytvytsky, the head of the group of advisers to the governor of the National Bank of Ukraine (NBU), has said
"[Inflation] in Ukraine is 1.9%, in the United States - 2.1%, in Europe - 2.6%, in China - 3.6%, and in Russia - 3.7%," he said.
According to Lytvytsky, consumer price inflation in Ukraine in the first quarter of 2012, compared with the previous quarter, amounted to 0.7% and hit a record low (the previous one was registered in 2007 at 1.3%).
"The probability of finishing this year with inflation lower than the figure included in the budget is estimated at 90% and with inflation lower than last year (4.6%) at 60%," he said.
Lytvytsky also noted that compared to the previous month, inflation rate has remained at less than 1% for eleven months. "This is a new historic low. Last year this figure was retained for eight months, and in 2001, 2002, 2004 and 2005 - for seven months," he said.