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State Statistics Service: Ukrainian October inflation slowed to 2.4%, reached 19% since start of 2014
07.11.2014 17:23 "Agro Perspectiva" (Kyiv) —
Within October 2014, Ukrainian inflation has slowed to 2.4% (against 2.9% in September 2014), NRCU says referring to the Ukrainian State Statistics Service report.
As to report, inflation is still significantly higher than 0.8% in August and 0.4% in July.
As to the Service, since the beginning of this year consumer prices in the country have, upon whole, increased by 19%. In annual terms (relative to the same month last year) inflation accelerated to 19.8% from 17.5% in September, 14.2% in August, 12.6% in July, 12% in June and 10.9% in May.
The Service says consumer prices for food and non-alcoholic drinks in October rose by 2.6%. Prices for eggs and lard were up by 13.2% and 11.2%. Prices of rice, vegetables, bread, meat and meat products, milk and dairy products, soft drinks, pasta, sunflower oil increased by 5.4–1.7%. At the same time, the price of sugar and fruit decreased by 4.1% and 2.1% respectively. Prices of alcoholic drinks and tobacco goods increased by 2.5%, in particular that of tobacco produce - by 2.9%, alcohol - 2.2%.
Reportedly, the growth of prices (tariffs) for housing, water, electricity, gas and other fuel by 2.2% occurred mainly due to higher prices for heating and solid fuel (10.8% and 7.8%), as well as housing rent fees by 2.6%.
As to the Service, the price hike of 2% in health care services was primarily due to the increase in the cost of pharmaceutical products by 3%. Lower prices for transport services by 0.7% are mainly due to the reduction in the cost of fuel and oil by 2%, as well as cars by 0.3%. The growth of rates in the communications sector by 0.9% was due to the increase in subscription fees for phone use by 6.5%.
As to the earlier report, in 2013 consumer prices in Ukraine rose by 0.5%, while a year before they had fallen 0.2%.
In meanwhile, the Ukrainian Government and the National Bank forecast inflation in the current year as high as 19–19.5%.
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