KYIV, Jan 20 – Ukraine’s inflation is likely to hit 7.7% in 2022, up from an earlier forecast of 5%, due to a number of factors, including rising commodity prices, the National Bank of Ukraine (NBU) reported.

"The National Bank has worsened the inflation forecast for 2022 from 5% to 7.7%... A gradual decrease in inflation will be facilitated by the strengthening of the NBU's monetary policy, adjustments in world commodity prices, and the impact of last year's record harvests. It is expected that underlying inflation will slow down to about 4% in subsequent years," the National Bank said on its website on Thursday.