Archive 2007

  • 03.12.2007

    High Inflation in Ukraine: Analysis and Policy Recommendations

    (Code:W 10)

    In November 2007 the consumer price index (CPI) in Ukraine rose by 15.2% yoy, the highest inflation rate since 1999. But also other price indicators such as the producer price index (PPI), the GDP deflator as well as asset price indices for real estate and for shares (PFTS) rose sharply in recent times. Without doubt, Ukraine is facing a serious inflation problem, which jeopardizes macroeconomic stability and hurts the mass population. In view of the role inflation expectations play in creating future inflation, it is crucial for policy makers to act quickly and in a coordinated manner. A “wage-price nexus” has to be decisively combated before it is too late, i.e. before the cost of fighting inflation becomes extremely high in terms of output losses.

    Authors:  Kravchuk Vitaliy, Кірхнер Роберт, Джуччі Рікардо
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