The National Bank forecasts 30% inflation this year in Ukraine

The National Bank of Ukraine expects inflation in Ukraine at 30% in 2015.

This is stated in the inflation report of the regulator.

"Inflation in 2015 will accelerate to 30%, the main growth in prices will take place in the first half as the effects of devaluation will pass in I-II quarters and the major increase in utility tariffs will take place in the first half," – the report says.

As noted, inflation thereafter will be gradually declining to 13% at the end of 2016.

"The core inflation will be trending down faster than the general one (which will be largely determined by the growth of administrative regulated prices) and will amount to 25% at the end of 2015, and in 2016 it will drop to 7-8%," – the regulator said.

"This reduction will be mostly caused by weakening effects of devaluation and rising fuel costs, declining inflation expectations, negative GDP gap and the stabilization of world prices for grain and other commodities at a low level," – the statement reads.

As reported, the International Monetary Fund forecasts inflation in Ukraine at 27% in 2015.

Ekonomichna Pravda