Consumer price index in August fell by 0.3% against the previous month and inflation reached zero in annual terms.

Deputy Director of the NBU General Economic Department Oleksandr Petryk has stressed this in his video address.

"Inflation is equivalent to zero in annual terms, in other words, it withdrew from the negative value zone and there are no grounds to speak about deflation," Petryk said.

According to him, the largest fall of prices in August took place by two seasonal groups: vegetables (by 7.9%) and fruits (6.7%). Taking into consideration that the overall weight of fruits and vegetables in the consumer basket is 8.5%, their contribution into reduction of prices was negative. Prices for other commodity groups changed insignificantly. In particular, prices for 298 goods out 335 goods and services changed by less than 1%.

For instance, prices in such a group as payment for housing, water, electric energy, gas and other types of fuel grew by only 0.1% over a month.

Prices grew for fuel also by 0.1%, which promoted invariability of prices for transport services.

For the rest of services, prices also actually did not change. In particular, changes took place from reduction by 0.3% in the health care sector to growth by 0.2% to services at restaurants and hotels. Prices for processed goods primarily remained at the level of the previous month (they even dropped for clothes and footwear by 0.3%).

Controlled and slight inflation became a result of moderate consumer demand and stability on the foreign currency market in August," Petryk emphasized.

Producer price index grew by 0.5%. In annual terms, it remained at the previous month level (+1.4%).

Ukrinform