Despite having exceeded the NBU target, year-end inflation returned to the downward trend and has declined to a single-digit value for the first time over five years, coming in at 9.8%.
As a result, today we see: lower underlying inflationary pressures on the economy of Ukraine a more comfortable business environment and an increase in household savings inflation gradually approaching our medium-term target of 5%. This is primarily the result of the NBU’s tight monetary policy. The gradual increase in the key policy rate began in October 2017 prompted by heightened inflation risks.