KyivPost

Deflation in Ukraine reaches 0.3% in May, 0.5% over year, says statistics service

Print version
June 6, 2012, 12:05 p.m. | Business — by Interfax-Ukraine
Consumer prices in Ukraine dropped by 0.3% in May 2012, or by 0.5% year-over-year, the State Statistics Service of Ukraine reported on Wednesday. Inflation in the country was 0.4% at the beginning of the year, according to the statistics service.

As reported, inflation in 2011 slowed to 4.6% from 9.1% in 2010, hitting a record low since the country gained independence in 1991. The previous best record was posted for 2011 at 6.1%, while 0.6% deflation was posted for 2002.

The government expected inflation this year to speed up to 7.9%. The state budget for 2012 was built based on this inflation forecast. According to the statistics service, inflation is slowing down and changed to deflation in May. In particular, inflation was 0.2% per month in January and February, 0.3% in March, and 0% in April. As reported, inflation in Ukraine in annual terms, i.e. compared to the same month last year, slowed to 0.6% from 1.9% in March and 3% in February.
The Kyiv Post is hosting comments to foster lively debate. Criticism is fine, but stick to the issues. Comments that include profanity or personal attacks will be removed from the site. If you think that a posted comment violates these standards, please flag it and alert us. We will take steps to block violators.

KyivPost

© 1995–2014 Public Media

Web links to Kyiv Post material are allowed provided that they contain a URL hyperlink to the www.kyivpost.com material and a maximum 500-character extract of the story. Otherwise, all materials contained on this site are protected by copyright law and may not be reproduced without the prior written permission of Public Media at news@kyivpost.com
All information of the Interfax-Ukraine news agency placed on this web site is designed for internal use only. Its reproduction or distribution in any form is prohibited without a written permission of Interfax-Ukraine.