Ukrainiana

Inflation May Hit Record 14 Percent at Year-End

Under the Yanukovych Cabinet, Ukraine’s inflation may reach a seven-year high, closing at above 14 percent, Ukrayinska Pravda reports, quoting a report in Delo. Quite a reality check for Yanukovych’s “stability and prosperity” mantra!

In September, the country’s Consumer Price Index (CPI), published by the State Statistics Committee, stood at 108.6 percent. While the economy has expanded at a rate of 7.3 percent, food prices have risen 12.7 percent; services, 8.7 percent. Food costs gobble up the lion’s share of Ukrainians’ incomes.