Middle East War Could Boost Ukraine Inflation by 2.8 Percent
Governor Andriy Pyshnyi says Middle East oil prices may raise Ukraine inflation by 2.8 points. He hopes Hungary's election helps secure a 90 billion euro loan.
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Rising energy costs resulting from the conflict in the Middle East are exerting pressure on the economy of Ukraine, with inflation potentially increasing by 1.5 to 2.8 percentage points. National Bank of Ukraine Governor Andriy Pyshnyi noted that the higher price of Brent Crude Oil is already being felt across the nation. Despite these challenges, the central bank intends to maintain its long-term strategy for price control.
The central bank would stick to its target of driving inflation to 5% in three years, using all available tools to ensure that goal was met.
