The head of the National Bank of Ukraine, Kirill Shevchenko, spoke about the situation with prices in our country. According to him, in a war it is impossible to avoid rising prices.
The current level of price increases is substantial but manageable. Last month, inflation was 15.9%, and by the end of the year it may exceed 20%.
The head of the NBU, Kirill Shevchenko , announced this in a column on the NP.
According to the NBU, based on web-scraping (a method of collecting prices from online supermarkets), inflation in April was 15.9%. By the end of the year it may exceed 20%. This is a significant level of price growth, but controlled. And such indicators are not comparable with 2015, when inflation reached 60% in some months.
The NBU has significant experience in fighting inflation. In general, there were no cases in world history when a country entered into a state of war, having such a highly developed financial system and monetary policy.
“As long as market mechanisms have a limited impact on the market, we will keep prices rising by fixing the exchange rate and maintaining part of the restrictions. As soon as the monetary transmission channels start working and uncertainty decreases, we will return to the inflation targeting (IT) regime, which once helped to overcome the same inflation of 60%,” Kirill Shevchenko emphasized.
Earlier, the head of the NBU told how Ukrainian banks function in a war .
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