CPI up 1.1% mom, PPI 0.4% mom in November

Ukraine’s consumer price index rose 1.1% mom in November and 11.3% in 11M09, the State Statistics Committee announced yesterday. The producer price index grew 0.4% mom last month and 13.2% in 11M09.  Mykyta Mykhaylychenko: Consumer prices were up 13.6% yoy in November vs. 14.1% yoy in October. The deceleration in consumer inflation stems mainly from the stickiness of utility prices ahead of the elections; their contribution to the change in consumer prices declined from 2.4 pp in October to 1.7 pp in November. We expect consumer inflation to slowdown further in 2010 to 9-10% on the back of weak domestic consumer demand and exchange rate stabilization in 2H10.