By the end of March, inflation in Ukraine is expected to rise to 14%.

Danylo Hetmantsev, the head of the parliamentary finance committee, noted that the NBU predicts inflation will accelerate to 14.3% in the first quarter of 2025. The politician stated that the primary reasons for the current inflation level include crop failures, increasing energy costs, and rising real wages.

“The biggest impact comes from the increase in electricity tariffs for both the population and businesses,” added Hetmantsev.

However, inflation is projected to decrease to 8.4% by the end of the year and to 5% in 2026. To address inflation, the NBU is raising the discount rate, which has already reached 14.5%. Regarding the hryvnia’s exchange rate, Hetmantsev anticipates an 11% depreciation to ₴45 per $1.

“The country is at war, and this is normal. Moreover, it even supports our exports. I don’t see any catastrophe in this,” he stated.

Additionally, he does not foresee sharp fluctuations in the exchange rate in 2025. He believes that significant gold and foreign exchange reserves, along with foreign aid and the NBU’s balanced policy, guarantee stability.