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. Last Updated: 07/27/2016

Ukraine Deflation

KIEV -- Ukraine posted modest deflation in July for the first time this year because of a seasonal drop in food prices, the State Statistics Committee said Thursday.

Overall, deflation was 0.1 percent. Food prices dropped 0.4 percent, while nonfood prices went 0.6 percent up. The highest price increase, of 2.7 percent, w as in the oil and chemical industries, a committee spokeswoman said.

Inflation was 18.7 percent in the first six months of 2000, above the government's projected year-end inflation rate of 15.9 percent.

Annual inflation in Ukraine has fallen sharply since the economic crisis in 1994, when it skyrocketed to more than 10,000 percent.