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December Inflation Passes 40% in Ukraine

Figures for the end of the year from the State Statistics Service in Ukraine show the inflation rate hit 43.3%. 

This compares to 24.9% for December 2014 and 0.5% for December 2013.

There is now grave concern of hyperinflation in Ukraine with estimates of an unofficial rate of inflation surpassing 200%.

The World Bank has estimated that Ukraine’s GDP decreased by 12% in 2015. It added in a recent report that it could grow slightly in 2016 if it implements the requested reforms to its economy.

The country is still in receipt of IMF loans that are keeping the country afloat.

It is now two years since the revolution in the country that was quickly followed by the Russian annexation of Crimea. The civil war in the East of the country that followed, has crippled Ukraine’s economy.

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