Prices will go down, Ukraine’s national bank chief assures

02.05.2023, 10:31
Prices will go down, Ukraine’s national bank chief assures - Photo

Ukraine has entered a steady disinflationary trend, making it possible to predict further price declines, the governor of Ukraine’s central bank, the National Bank of Ukraine (NBU), said.

Speaking on Ukrainian TV channel We Are Ukraine on Monday, Andrii Pyshnyi assured that "prices will continue to decline."

"Demand for foreign currency is declining. This is the result, among other things, of the NBU’s monetary policy, which many people did not like and still do not like," Mr Pyshny said.

Among other reasons, he listed the resilience of Ukraine’s energy sector, which had been under Russia’s constant attacks since October, as well as falling global energy prices and high consumer demand.

The NBU governor added that a whole range of factors suggested that Ukraine had entered a "fairly stable" disinflationary trend, making the central bank revise its inflation forecast.

"While in December we forecast inflation at 18.7 percent, we are now forecasting 14.6 percent by the end of the year," Mr Pyshnyi said.

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