In October-2023, inflation declined to 5.3% from 7.1%

Consumerprices in Ukraine in October 2023 accelerated to 0.8% from 0.5% in Septemberafter declining by 1.4% in August and 0.6% in July.

This was reported by the State StatisticsService.

At the sametime, consumer prices rose by 2.5% in October 2022, so in annual terms inOctober 2023, inflation fell again - to 5.3% from 7.1% in September, 8.6% inAugust and 11.3% in July.

In October,the agency also recorded a decline in core inflation to 0.4% from 0.9% inSeptember after it was at zero in July and August.

Given thatin October 2022, core inflation was 1.9%, in annual terms in October 2023, italso fell to 6.8% from 8.4% in September, 10.0% in August and 12.3% in July.

The StateStatistics Service clarified that since the beginning of this year, inflationin the country has reached 3.8%, with core inflation at 4.6%.

At the endof October, the National Bank of Ukraine again improved its inflation forecastfor this year from 10.6% to 5.8%, but downgraded it for 2024 from 8.5% to 9.5%.

In earlyNovember, the government improved its inflation forecast for this year from14.7% to 7.1%, and for the next year from 10.8% to 9.7%.

In 2022, inflation isexpected to rise to 26.6% from 10% in 2021, and core inflation to 22.6% from7.9%.