NBU forecasts inflation to slow down to 18.7% in 2023
Continued tight monetary conditions, lower global inflation, and weaker consumer demand will contribute to this
What happened? The National Bank of Ukraine (NBU) forecasts inflation to slow down to 18.7% in 2023.
Source. The press service of the regulatory authority.
Details. It is noted that this will be facilitated by the preservation of tight monetary conditions, lower global inflation and weaker consumer demand in the face of power cuts.
"Inflows of announced international assistance and joint efforts of the NBU and the government to revive the domestic debt market will help avoid monetary financing of the budget deficit and balance the FX market," the statement says.
According to the NBU's forecast, inflation will slow down faster in the coming years due to reduced security risks, full recovery of logistics, and larger harvests.
The NBU expects inflation to decline to 10.4% in 2024 and 6.7% in 2025. The administered prices component will make a major contribution to inflation during these years due to the need to bring utility tariffs to market levels.
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