Inflation accelerates a notch to 7.7% y-o-y in March

The Ukrainian consumer price index rose 7.7% y-o-y in March, accelerating from 7.2% y-o-y in February, but down from 8.2% y-o-y in January, the State Statistics Committee reported this week. Concorde Capital: March again saw moderate growth in food prices (+5.7% y-o-y, following +5.2% y-o-y in February) and utilities prices (+21.5% y-o-y, following +20.0% y-o-y in February). As utility prices are expected to increase further, pursuant to Ukraine’s IMF agreement, we expect annual inflation for 2010 at 9%-10%.