The reason is the growing toll on the federal budget and civilian industries, three officials told Bloomberg, with some calling for the decision to be made at the bank's meeting on June 6.
The move marks the second raise of the key policy rate since the beginning of 2025. In late January, the central bank raised it from 13.5% to 14.5%.
The European Bank for Reconstruction and Development (EBRD) has lowered its 2025 growth forecast for Ukraine’s economy, now expecting 3.5% growth instead of the previously projected 4.7%.
Speaking at a televised meeting with Prime Minister Mikhail Mishustin on Feb. 7, Putin noted that consumer prices in Russia rose by 9.5% in 2024 and have climbed further to 9.9% year-on-year this month.
Ukraine’s inflation rate is expected to peak at 15% by mid-2025 before dropping to 8.4% by year's end, Ukraine’s Central Bank said on Jan. 31.
Ukraine's National Bank (NBU) announced on Jan. 23 that it will raise the key policy rate from 13.5% to 14.5% per annum starting from Jan. 24, 2025.
The accelerated rate surpassed forecasts made by Ukraine's National Bank in November, which estimated that Ukraine would end 2024 at an annualized 9.7% inflation rate.
The following is the Jan. 7, 2025 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. It’s hard to fully predict what Ukraine’s economy will look like in 2025. It largely depends
Inflation in Russia has reached its highest levels in nearly a year, driven by war spending and rising food prices, The Moscow Times reported on Dec. 25, citing Russia's Federal State Statistics Service (Rosstat).
"The sanctions are having an effect, but they are not of key importance," Russian President Vladimir Putin said when talking about the surging inflation and prices in Russia.
According to the Federal State Statistics Service (RosStat), during the week of Nov. 19-25, the consumer price index increased by 0.36%, up 1.15% from the beginning of the month, and over 8% from the beginning of the year.
Two men were recently arrested in Moscow after allegedly trying to steal 25 packets of butter.
After several large-scale Russian attacks on Ukrainian energy infrastructure in the spring and summer, the rise in electricity prices in June fueled both consumer and industrial price inflation in Ukraine.
The annual inflation rate for June was 8.59%, up from 8.30% the previous month. The figure is significantly higher than that of the U.S., which is expected to be around 3.1% for the month of June.
Prices of basic goods like groceries may increase by up to 15% due to frequent blackouts causing an increase in the costs faced by food producers, Forbes Ukraine reported on June 20.
Consumer prices in Ukraine fell to 7.1% by the end of September, down from 8.6% by the end of August, as inflation cools in the country.
Ukrainian consumers felt the impact of high inflation in 2021 as prices on basic goods and utilities kept growing. The annual inflation rate last year grew to 10% for the first time since 2018. The growth of consumer prices also accelerated – from 5% in 2020 to 10% in 2021, according
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