CPI down 0.1% mom in August

According to the State Statistics Committee, consumer prices were down 0.1% mom in August, the second deflationary month in a row, after July’s 0.5% mom decline. In yoy terms, CPI slowed to 26% yoy in August, vs. 26.8% yoy in July. The main drivers were food & beverages (-1.3% mom in July and -0.5% mom in August). PPI grew 1.8% mom in August (46.9% yoy). Andrii Parkhomenko: It is notable that the main factor of the CPI growth this year, food and beverages prices, is now dragging the index down. We believe that from September to yearend, inflation will be moderate and CPI will reach 21% yoy.