Inflation up, retail trade turnover down in Ukraine

By Vladimir V. Sytin
The Ukrainian Times

Data from the State Committee for Statistics of Ukraine show that a retail trade turnover fell by 23.4% in January-August, compared with last year.

According to Alexander Okhrimenko, president of the Ukrainian Analytical Center, inflation has zoomed by 70% in this country over the course
of eight months, whereas nominal incomes of the population increased by only 15%. He thinks the retail trade turnover will continue to decrease until Ukrainians start earning decent wages that is conditional on rapid growth of the economy.

The U.S.-backed puppet government of Ukraine, including foreign advisors, has done whatever it takes to get the economy moving ahead. However, whatever it did was not whatever it needed. Instead of racing to the so-called European standards, Ukraine seems to be in its own permanent ‘doom loop’, even below Soviet standards.