The actual inflation rate at 9.6% in Ukraine in May in annual terms slightly exceeded the forecast published in the inflation report.
According to the National Bank of Ukraine (NBU), the acceleration of inflation is caused by rapid rise in raw foods prices due to insufficient supply.
In addition, the fuel prices rose due to difficulties in importing energy resources from Belarus and Russia.
As in previous months, the core inflation at 7.4% in annual terms was slightly lower than the forecasted one.
“The actual inflation rates, in particular, the baseline, indicate that the fundamental inflationary pressure is in line with the National Bank expectations. However, the overall inflation rate exceeded the forecast trajectory, primarily due to the effect of temporary supply factors,” the report says.
As The Journalist reported, the World Bank predicts inflation in Ukraine to slow to 7%.