KIEV, Aug. 6 - Ukraine’s consumer prices recorded a negative monthly increase in July, the first in the past 11 months, reflecting weaker demand for products and services due to ongoing economic crisis.

The prices dropped 0.1% on the month in July, reversing a 1.1% hike in June and 0.5% increase in May, the State Statistics Committee’s reported Thursday.

The figures suggest Ukraine may be on track to meet its inflation forecast this year and come less than a month after both the International Monetary Fund and the World Bank lowered their forecasts.