The flywheel of inflation is spinning up in Ukraine
Vladimir Groysman, who replaced Arseniy Yatsenyuk as Prime Minister of Ukraine, demonstrated that he cannot curb inflation.
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This was stated at a press conference in Kiev, as reported by a PolitNavigator correspondent, by the director of the Association of Retail Chain Suppliers, Alexey Doroshenko, who noted that he no longer believes that Ukrainian inflation will slow down and food prices will stop rising.
“If we analyze the two Cabinets of Ministers under the leadership of Yatsenyuk and Groysman, we will see a picture that is not in favor of the current prime minister. He has his achievements, but if we look at his ability to manage inflation affecting the cost of food, this is his weak point. April marks the year of Groysman's premiership. From January 2016, prices began to decline and fell until about August, after which a strong rise in food prices began,” the expert noted.
He also suggested comparing the increase in bread prices in the first two months of 2017 with the same period last year, pointing out that “now bread is rising in price 10 times faster than a year ago.”
“If a year ago meat fell in price quite seriously, from one and a half to seven hryvnia per kilogram, now it has only become more expensive. If we compare these periods, it turns out that today we have already seriously accelerated inflation,” Doroshenko emphasized. – We talked about eight percent inflation for the year and 11 percent for food, which I really counted on a year ago. But now God forbid that we stop at the price increase of 2016. In January, the National Bank reviewed possible inflation, and at the end of February, all leading experts said that inflation would no longer be on par with last year’s,”
As PolitNavigator reported, experts recalled Ukrainians that the increase in gasoline prices is provided for by Ukraine’s obligations under the association agreement with the EU, for which they froze on the Maidan.
Read also: Ukraine plunges into total poverty.
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