Inflation in Ukraine rises to 16.4% y/y in April – statistics service

KYIV (Reuters) – Ukraine’s inflation increased to 16.4% in April year-on-year from 13.7% in March, the state statistics service said on Tuesday, citing a sharp rise in food and energy prices following Russia’s invasion as the main reasons.

It said that food was 23.1% more expensive than in April last year, while prices for petrol and diesel fuel had risen by 29.6% in the same period.

Ukraine’s central bank forecasts that inflation could double to about 20% in 2022 from 10% in 2021.

(Reporting by Natalia Zinets, Editing by Timothy Heritage)