CPI slows further to 18.1% yoy in March

The State Statistics Committee reported yesterday on its website that Ukraine’s CPI slowed further in March to 18.1% yoy (down from 22.3% yoy in January and 20.9% yoy in February). Consumer prices rose 1.4% mom in March. The rise in March was predominantly driven by increases in prices for food products (+1.5% mom), alcohol and tobacco (+2.4% mom), household appliances (+2.8% mom), and healthcare (+2.6% mom). Andrii Parkhomenko: We stick to our forecast of CPI in 2009 of 15.0% and see UAH depreciation and the hike in utilities prices as the main contributors to the price increases.