Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Ukraine Expects 25 Percent Inflation

KIEV, Ukraine - The Ukrainian government expects that annual inflation this year will significantly exceed its previous forecast of 15.9 percent but will not pass 25 percent, a top government official said Monday.

Inflation totaled 23.3 percent in the first ten months of 2000 and was 0.4 percent in November, down from 1.4 percent in October, Deputy Prime Minister Yuriy Yekhanurov said, according to Interfax.

Food prices rose by 0.3 percent last month, he said.

The government forecast inflation to be from 12 to 15 percent next year. Last year, the government registered 19.2 percent inflation.

Annual inflation in Ukraine has fallen sharply since 1994, when it skyrocketed to more than 10,000 percent. The former Soviet republic has been trying to revive its troubled economy since the appointment of a reform-oriented government last year.