OREANDA-NEWS. November 20, 2008. The inflation rate in Ukraine in October 2008 decreased twofold as against the same period last year and reaches 1,7 percent as against 2,9 percent.

Prime Minister of Ukraine Yulia Tymoshenko told a meeting with leadership of the regional executive authorities on issues concerning implementation of the State Budget in 2008.

“Regardless the hryvnia rate policy of the National Bank, despite the global financial crisis the inflation rate in October is half as against the last year of the previous cabinet without the crisis,” Yulia Tymoshenko said.

The PM thanked all heads of regional and district state administrations, mayors who watch closely the inflation processes.

Yulia Tymoshenko added that today the only factor impacting on the inflation would be fall in hryvnia rate as a result of the rise in imported article prices in Ukraine.

The Prime Minister emphasized that Government would exert every effort to reduce foodstuff and oil prices to the world level. “That's impossible that foodstuff which are becoming cheaper in the world, remain at the same level in Ukraine. That’s impossible when the world markets reduce oil prices threefold and our filling stations have the price not complying with wholesale oil prices in the world,” Yulia Tymoshenko declared.