According to Shevchenko, it is impossible to avoid rising prices.
In Ukraine in April inflation increased by 15.9%. By the end of the year, its level is projected at 20%. The head of the National Bank Kyrylo Shevchenko wrote about this in a column for NV Business.
The National Bank came to these conclusions after the results of web-scraping – a method of collecting prices from online supermarkets.
the level of price growth, but controlled. And such indicators cannot be compared with 2015, when in some months inflation reached 60%, “Shevchenko said.
He assured that the National Bank is quite experienced in combating inflation.
< p>“There have been no cases in world history when a country has entered a state of war with such a highly developed financial system and monetary policy,” he said. – As long as market mechanisms have a limited impact on the market, we will keep prices rising by fixing the exchange rate and maintaining some restrictions. But as soon as the monetary transmission channels start working and the uncertainty decreases, we will return to the inflation targeting regime, which once helped to overcome the same inflation of 60%, “the NBU chairman said.
Shevchenko believes that Ukraine will gradually resume the forecast cycle and start applying the discount rate again to reduce inflation to the NBU target of 5% and keep inflation expectations under control. At the same time, the return to inflation targeting is declared in the principles of monetary policy.
Read also: Private remittances to Ukraine decreased by 25%
Earlier it was reported that Ukraine's economy will gradually recover, but real GDP in 2022 could be reduced by at least a third .
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