KYIV, Dec 9 (Reuters) – Ukraine’s month-to-month client inflation slowed to 0.7% in November from 2.5% the earlier month, the State Statistics Committee mentioned on Friday.
It mentioned client inflation slowed to 26.5% in November year-on-year.
Heavy harm to Ukraine’s power infrastructure from waves of Russian air strikes was a key shock for the economic system in October and November, the economic system ministry mentioned.
Companies have been pressured scale back working hours and confronted extreme logistical challenges due to the electrical energy deficit and lengthy blackouts, it mentioned.
Ukraine’s economic system has been severely hit by Russia’s Feb. 24 invasion and greater than 9 months of struggle. Moscow has performed a sequence of missile assaults in current weeks, putting important infrastructure throughout the nation.
“Now the scenario with meals costs is progressively stabilising. Authorities actions to manage utility tariffs for residents have additionally contributed to curbing inflation,” Financial system Minister Yuliya Svyrydenko mentioned in an announcement.
Svyrydenko anticipated 2022 annual inflation to remain under 30%, as beforehand forecast by the federal government.
The statistics committee additionally mentioned gross home product fell by 30.8% within the third quarter of 2022 after a 37.2% hunch within the second quarter of the 12 months.
The economic system ministry had beforehand mentioned it needed to minimize its financial outlook for your complete 12 months, with GDP anticipated to fall by 33.2%. The Worldwide Financial Fund expects Ukraine’s economic system to fall by about 35% this 12 months.
Reporting by Olena Harmash, Enhancing by Timothy Heritage
: .
