Ukraine CPI growth slows to 0.4% m/m in July

Ukraine CPI growth slows to 0.4% m/m in July



7 серпня 2014 года
Конкорд Капитал

Ukraine’s July CPI slowed to 0.4% m/m (12.6% yoy) compared to 1.0% m/m (12.0% yoy) in the prior month, according to state statistics released on Aug. 6. All CPI components except utilities cooled: healthcare rose 1.2% m/m (compared to 2.5% m/m in June), transportation grew 0.7% m/m (1.9% m/m in June) and education inched up 0.1% m/m (+0.9% m/m in June). Food prices finally started contracting (-0.7% m/m vs. 0.7% m/m in June). At the same time, utilities increased 4.0% m/m, compared to 1.7% m/m in June.



Alexander Paraschiy: Slowing inflation is in line with our expectations. We do not see any drivers for price growth except for a further increase in utility costs, which so far have only partially reflected July’s 40% rise in heating rates. What’s more, if this year’s grain harvest indeed matches 2013 levels (as projected), we might see further contraction in food prices through the year. Against this backdrop, we see no point in revising our CPI forecast, which remains unchanged at 10.3% yoy (16.3% YTD) for 2014.

Источник: Конкорд Капитал

Аналитик: Александр Паращий
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