Inflation will be imported in Ukraine in 2012 - Bleyzer Foundation
2012-10-11 17:00:12
Inflation in Ukraine by the end of the year will be caused by growth of prices for agricultural products on the world markets.
Director General of the International Bleyzer Foundation Oleh Ustenko has said on Thursday in Kyiv, the UKRINFORM correspondent reports.
"Inflation, which we will observe in Ukraine by the year end, will be imported inflation. Due to the fact that prices for foodstuffs are rising in price on the world markets," Ustenko said.
The expert explained that deflation, which is currently observed in the economy of any country, including Ukraine, testifies to cooling on demand and possible slowdown of economic growth rates. However, this does not mean that there will be no inflation in Ukraine.
"The structure of the Ukrainian consumption basket is such that foodstuffs make up 55% in it. And if the world prices rise, this means that internal prices for foodstuffs will not reach, but will strive to the world prices," the economist noted.
According to the expert, just due to growth of prices for agricultural products on the world markets, deflation, which has been observed in Ukraine over recent months, will be replaced by inflation.
As reported by UKRINFORM, the International Bleyzer Foundation upgraded its inflation outlook for Ukraine by results of 2012 from 9% tо 6%.