KIEV, Nov. 15 – Ukraine’s economy will expand 5% on the year, while consumer prices will rise 7.5% in 2011, which is better than the government had expected, National Bank of Ukraine Governor Serhiy Arbuzov said Tuesday.

“Inflation slows down, while the most important economic indicator, GDP, is increasing,” Arbuzov said at an NBU meeting, according to Radio Liberty. “This is a very good indicator for Europe today.”