You're reading: Underlying inflation in Ukraine slows to 5.3% in March

Underlying inflation in Ukraine in March 2012 was 0.1%, while in annual terms it slowed to 5.3% from 6.1% in February 2012 and from 6.6% in January 2012, the State Statistics Service has reported.

The service said that in January 2012 underlying inflation slowed to 0%, from 0.2% in December 2011, from 0.3% in November and 0.6% in October.
In general, underlying inflation in the first quarter of 2012 amounted to 0.2%.

Underlying inflation in Ukraine in March 2011 was 0.8%, while in annual terms it was 7%.

National Bank of Ukraine (NBU) Governor Volodymyr Stelmakh said in September 2010 that underlying inflation was the main reference point for determining the discount rate, which still remains at 7.75%.

Underlying inflation does not include short-term irregular changes in prices influenced by various factors of an administrative, event-based or seasonal character. For instance, it does not include changes in the price of food and energy.

The State Statistics Service started calculating underlying inflation at the beginning of 2008. Underlying inflation in 2009 was 14.9%, while consumer prices grew by 12.3%. Underlying inflation in 2010 was 7.9%, while the growth of consumer prices stood at 9.1%.