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National Bank: Inflation in Ukraine to reach 30% in 2022

by The Kyiv Independent news desk October 20, 2022 6:20 PM 1 min read

Inflation remains under control amid the full-scale Russian invasion that has taken a severe toll on the Ukrainian economy, the National Bank reported. In 2023, inflation will decrease to 20.8%, according to National Bank's estimates.

"Inflation will accelerate by the end of the current year and will start to decline in the first quarter of 2023," the NBU said. If the full-scale war lasts longer, Ukraine's economic recovery will be weaker, and inflation will be higher than currently expected, NBU said.

According to the National Bank, Ukraine's GDP will decrease by 32% in 2022.

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