KIEV, June 12 – The pace of consumer price index and its elements in May shows that there is a risk that inflation in 2017 would exceed target, according to the National Bank of Ukraine.

"The real inflation level in May – both in monthly and annual terms – was higher than the NBU's forecast. This is linked first to the high pace of growth of raw food and larger influence of administrative factors," the central bank said.

The NBU said that in general, the rise of prices of raw food was expected. However, the pace of their price growth outstripped the central bank's forecast.