Consumer inflation in Ukraine slowed to 8.6% in August thanks to a larger than expected supply of new-harvest vegetables and fruits. According to the NBU’s estimates, the slowdown in inflation will also continue in September, according to their October Macroeconomic and Monetary Survey.
The bank experts do not provide figures for September’s inflation, but according to the published schedule, inflation slowed to approximately 7%. At the same time, the review notes that the revival of economic activity in Ukraine is accompanied by increased demand for labor, which leads to a gradual improvement in employment and household incomes.
“Incomes of the population are growing modestly, supported by social benefits and payments to military personnel, and the recovery of economic activity, which in turn causes the gradual recovery of salary growth in the private sector,” the National Bank noted.
However, 60% of Ukrainians generally say that their economic situation has worsened over the past year. At the same time, the number of vacancies in Ukraine is increasing due to seasonality and economic recovery.