While the experts’ forecast is the most accurate among private-sector expectations in Ukraine, all surveyed groups have expectations consistently overshooting or undershooting future realized inflation. However, the bias has decreased over time. Moreover, inflation expectations became less dependent on exchange rate expectations. This suggests that the NBU communications are effective as an implementation tool of inflation targeting.
VoxUkraine: Inflation expectations of Ukrainians
A picture shows Ukraine's inflation statistics in 2019.
