KIEV, Jan. 12 - Ukraine’s inflation will probably accelerate this year because of the ballooning budget deficit, a senior official at the National Bank of Ukraine said Tuesday.

Ukraine reported 12.3% inflation in 2009, exceeding the government’s original forecast of 9.5%, due to a widening budget deficit.

Ukraine’s inflation rate will accelerate even as economic growth slows, cutting demand for goods and services, the official said.