Kiev - The World Bank on Friday revised upwards Ukraine's predicted inflation rate for 2008 to 21.5 per cent, the Interfax news agency reported.
The bank had been predicting 17 per cent inflation, but galloping food and energy prices made that expectation unrealistic, said Ruslan Piontovsky, a bank spokesman.
The bank also suggested overall Ukrainian GDP growth will be at a relatively strong 6 per cent on the strength of demand for key Ukrainian export products such as steel, foodstuffs, and chemicals.
But growth would fall to between 4 and 5 per cent during 2009 and 2010, Pointkovsky said.