KIEV, September 15 (RIA Novosti) - The National Bank of Ukraine is forecasting that the inflation rate in the country would run at 12% in 2005, the bank's head told a news conference Thursday.
Vladimir Stelmakh said inflation was going up mostly due to a shortage of food products (sugar, meat and dairy products), which forced their prices up.
According to Ukraine's chief banker, consumer prices rose by 6.7% in the first eight months of this year. Stelmakh said monetary factors supervised by the bank contributed only 1.8% to the forecasted inflation rate.
