Price-cutting continues the
third month running. In September it totaled 1,8, in
October – 1,4%. In total during the last three months the price fall in the industry
almost achieved 10%.
“This is a very
important signal of adequate economic response to the crisis,” Finance Minister of
Ukraine Viktor Pynzenyk commented upon these data. I
am not concerned about the consumer price changes (inflation) – 1,5%. Firstly, it is less as against the previous month (1,7%) and essentially lower as compared with the November
rate of the last year (2,2%), Secondly, consumer prices did not change (+0,2% against
+ 2,3% in November of the previous year). Thirdly, rise in prices occurred at
the cost of those sectors (communal services) which had a production price essentially
higher than the price”.
Both in the world and in
Ukraine the present crisis of real economy, which has started from the banking sector,
based on the consumption crisis. Reduction in industry prices helps to maintain
production volume.
Under the current
conditions, if we avoid mistakes, the country faces no risks of high inflation.
At the same time the response of consumed prices is not enough, Viktor Pynzenyk thinks. According to him, more essential response
both in the sector of final consumption and in production sectors is required. “These
steps are not enough to reduce the negative consequences of the consumption
crisis. And I expect deeper response of the economy in December this year”.
Government portal
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