According to the data, released by the State Statistics Service in December inflation in Ukraine accelerated to 3 percent from November’s 1.9 percent.
Ukraine is currently undergoing a severe political crisis that has had a significant negative impact on the country’s economy bringing it to the verge of default. In 2014 Ukraine received a total of $8.2 billion in aid from its foreign partners and international financial institutions.
On December 31, Ukrainian President Petro Poroshenko signed a law on the state budget for 2015. The budget is based on an inflation rate of 13.1 percent. Ukraine's Prime Minister Arseniy Yatsenyuk said that the budget would be reviewed by February 15, "depending on the results of negotiations with international financial institutions".
