KYIV, July 25 – The National Bank of Ukraine (NBU) has worsened the price growth forecast for 2024 and 2025 by 0.3 and 0.6 percentage points (p.p.), respectively – to 8.5% and 6.6% primarily due to increased business costs for labor and electricity.

“Price pressure will continue in the coming months due to further increases in business costs, higher excise taxes, as well as the exhaustion of the effects of last year’s significant harvests and the negative impact of summer drought on current yields,” the regulator said in a press release on Thursday.