Managers of various Ukrainian enterprises and business owners expect consumer prices to rise in the next 12 months at 10.3%. Inflation expectations are worsening for the second quarter in a row, according to data from the report “Business Expectations of Ukrainian Enterprises” from the National Bank for the fourth quarter of last year..

For comparison, in the third quarter of 2024, business expected inflation at 9.7%, in the second quarter – 9.0%, in the first quarter of 2024 – 11.0%, in the fourth quarter of 2023 – 11.3%.

According to the latest survey, 46.3% of respondents believe that inflation will not exceed 10.0% (in the preliminary survey - 54.4%), 17.8% expect it to reach more than 15.1%.

Military actions remain the most significant factor in the growth of consumer prices (82.9% of respondents). The influence of the “tax changes” factor increased most of all by 4.4 p.. - up to 42.3%. The influence of the exchange rate factor weakened by 5. 1 p. – up to 70.3%.

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660 enterprises from 21 regions took part in the survey (excluding the temporarily occupied territory of the Autonomous Republic of Crimea, as well as Donetsk, Lugansk and Kherson regions).