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NBU: Inflation in January 2010 will be lower than in January 2009

February 02, 2010 | “Interfax-Ukraine via the Kyiv Post"

The National Bank of Ukraine (NBU) has forecast that inflation in January 2010 will be lower than that in January 2009.

"There was high inflation [of 2.9%] in January last year. We expect that inflation [in January 2010] will be lower than in January 2009," the NBU's executive director for economic issues, Ihor Shumylo, told reporters on Feb. 1.

The economist declined to give an exact forecast, but said that there would be a slowdown in the year-on-year inflation dynamics.

"[Inflation in] January to January will be lower than [that in] December to December," Shumylo said.

As reported, inflation in Ukraine in December 2009 shrank to 0.9%, from 1.1% in November 2009. Inflation was 12.3% in 2009, while in 2008 it was 22.3%.


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