Ukraine: large harvest of grains and decrease of sale prices lowered inflation in September

The high harvest results of grains in the current year and continuation of the tendency of the decrease of sale prices of agricultural products became the factors, hindering inflation development in September, declared Bogdan Danilishin, the Minister of Economics of Ukraine.

During January-August, the index of sale prices of agricultural products totaled 85% compared to the same period of 2008, including plant growing products – 74%.
During eight months, the average sale prices of agricultural products totaled: grains – 756.1 UAH/t (a decrease of 17.3% compared to the same period of 2008), sunflower seed – 1808.8 UAH/t (down 47.9%).

Besides, negative growth rates of monetary aggregates (in September, money quantity lowered by 1.4 bln UAH, or 0.3%, from the beginning of year – by 46.1 bln UAH, or 8.9%), cash volumes in circulation decreased by 0.3 bln UAH, or 0.2% (in 2009 – by 5.9 bln UAH, or 3.8%), and the decrease of consumer crediting and realization of the general antiinflationary measures of the government and the National bank restrained inflation processes in the country.

Source: AgriMarket.Info