You're reading: Inflation in Ukraine remains at zero in October

Consumer prices in Ukraine in October remained at the same level as a month and a year ago on average, the State Statistics Service reported on Tuesday 

The service said that inflation remained zero in annual terms for the third month in a row.

The statistics service said that since early 2012, consumer prices in Ukraine have fallen by 0.3%.

As reported, in 2011, 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.

Since May 2012 the 0.2-0.3% deflation was seen in the country, while in September it was replaced by 0.1% inflation.

The government expected inflation this year to speed up to 7.9%, and the forecast has not yet been changed. 

Food and non-alcoholic beverage prices in October fell by 0.2% compared to September 2012. The highest fall was registered for vegetables (5.1%). Prices of sugar, rice, grain processing products were down by 2.3-1.4%, and prices of fish, fruit, meat and meat products decreased 0.9-0.1%. The prices of eggs, salo (pork fat) and margarine grew by 4.4-1.6%, and the prices of milk, sour cream, cheese, sour milk, bread, macaroni and sunflower oil were up by 0.8-0.2%.

Last month prices of alcohol and tobacco were 0.4% up, including a rise of 0.5% in the prices of tobacco and a 0.3% rise in the prices of alcohol.

Housing tariffs, water, electricity, gas tariffs and tariffs for other types of fuel in October grew by 0.1% compared to September.

Transport tariffs grew by 0.2%, which was mainly due to the increase in fuel and fuel oil by 0.9%. The cost of transportation by rail fell by 4.5%.

The increase in the prices in education by 0.1% is linked to the rise in fees for education in high schools by 1.2%. Fees for kindergartens fell by 0.1%.

In October prices of travel services, phone equipment, audio, photo equipment and equipment for processing information fell by 0.8-0.3%.

As reported, in 2011, 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.

Since May 2012 the 0.2-0.3% deflation was seen in the country, while in September it was replaced by 0.1% inflation.

The government expected inflation this year to speed up to 7.9%, and the forecast has not yet been changed.