The increase in the pension and of the minimal wage will increase inflation.
The national Bank of Ukraine (NBU) said that the increase from 2017 the minimum wage and increasing pensions contributed to an increase in inflation.
About this to Ukrainian news reported the press service of the NBU.
“Increasing from 2017 the minimum wage (MW) added 2-2,5 percentage points to inflation this year, while the increase of pensions since October, will add 0.3 to 0.6 percentage points,” – said in the message.
So, in January the national Bank has worsened the inflation forecast from 8% to 9.1% due to salary growth of up to 3200 UAH.
The national Bank noted that wage growth had a 2 times greater pressure on inflation than expected.
In addition, the pension reform will stimulate private consumption and generate additional inflationary pressure.
The national Bank believes that this effect will be minor because the effects on the budget from increased spending on pensions will be offset by other items (the budget deficit remains less than 2.5% of GDP in 2017 and 2018).
How much pressure will have an increase in wages from 2018 to 3723 UAH on inflation, the NBU is not said, noting that the new inflation forecast (7.3 percent) already addresses this indicator.
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