The National Bank has summarized the economic results for April-May.

Here are the leading indicators:

1. Inflation in April remained the same as in March – 3.2% annually. This was facilitated by a drop in prices for raw food products and persistent inflationary expectations.
2. Business expectations and consumer sentiment worsened in May. The reason was limitations in electricity consumption and availability.
3. The labor market recovered more slowly in May: growth in labor demand slowed, but supply remained limited. This, in turn, continued to put upward pressure on wages, which increased household incomes.
4. The foreign trade deficit narrowed in April. This follows a reduction in expenses for war refugees abroad and a significant increase in corn exports.
5. International reserves were $42.4B at the end of April and $39B at the end of May. The volume of international aid decreased compared to March.
6. The state budget deficit in May expanded rapidly due to significant expenditures. These were primarily financed by international aid.
7. The situation in the FX market was controlled due to intervention by the NBU.