Ukrainian October consumer prices rise 2.6% in month

Analysis

Ukraine's consumer prices rose at a faster pace in October than in the previous month, undermining government efforts to keep the inflation rate below 9% this year.

Consumer prices rose 2.6% in October from the previous month, led by prices for services, the Kiev-based state statistics committee said in a statement posted on its Web site today. The annual inflation rose to 11% from 9.1% a month earlier, the committee said. The Finance Ministry wants the inflation rate to fall as low as 8.9% this year, compared with 10.3% in 2005, it said on September 27. The government wants to keep the inflation rate below 10% to sustain economic growth and bring the country closer to the European Union's economy. Ukraine's government forecasts inflation rate will fall to 7.5% next year. (Bloomberg)

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