Inflation Jumps To 2.6% In October

CPI increased by 2.6% yoy in October bringing Ukraine’s 10M inflation figure to 8.7%. The 2.6% monthly increase was the largest Ukraine has seen in the last six years. Alexander Viktorov: Despite the modest increase in food (+1.4% mom) and non-food items (0.1% mom), the 7.8% mom hike in services driven by 13.4% increase utility tariffs (heating tariffs in some regions doubled or tripled) pushed the CPI figure up. We expect to see more regions raise their tariffs as the winter sets in. We are revising our full year inflation figure from 11% to 12%.