Inflation to reach 31% in 2022, and GDP to drop by 1/3

In 2022, inflation will reach 31%, and GDP will decrease by a third. In the coming year, the economy is expected to return to growth while inflationary dynamics will decline, the press service of the National Bank of Ukraine reports.

“By the end of 2022, inflation will accelerate and reach 31% given the persistence of the impact of most supply shocks. This is, in particular, about the consequences of hostilities and the high cost of energy. In the next year, inflation is expected to slow down thanks to better inflationary expectations, the improvement of logistics, and the gradual growth of crops,” the report says.

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