Ukraine inflation reached 24.9% in 2014

Noam Stiekema

Ukraine inflation reached 24.9% at the end of 2014, showed the latest data of the Statistical Office in Kiev. Only in December the prices of non-alcoholic beverages and food products increased by 4%. The most significant rises were for vegetables (14.4%) and cereals (25.7%). The growth in the prices of rice, eggs, butter, fish, dairy […]

Ukraine inflation

Ukraine inflationUkraine inflation reached 24.9% at the end of 2014, showed the latest data of the Statistical Office in Kiev. Only in December the prices of non-alcoholic beverages and food products increased by 4%. The most significant rises were for vegetables (14.4%) and cereals (25.7%). The growth in the prices of rice, eggs, butter, fish, dairy products, soft drinks and meat you were in the range 3-10%. The tobacco prices increased by 2.1% and alcohol – by 1.3%.

Heating prices increased by 3.6% and for hot water – 2%. The pharmaceutical products increased by 3.7% and prices of cars – by 12.3%. The transport did rising by 6.4%. Initially, the Ukrainian government predicts that inflation in 2014 will reach 19%. Upon the adoption of the State Budget of Ukraine for 2015, approved at the end of last year, lawmakers set provided inflation this year does not exceed 13.1%. However, the Ukrainian authorities plan to review the budget not later than 15th February.

Ukraine continues to be a serious political crisis, which affects the economy and the public sector. The country is on the brink of bankruptcy, the authorities hope that this will be avoided by funding from abroad.

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