The president of the Association of Ukrainian Banks (AUB), Oleksandr Suhoniako, has said that Prime Minister Yulia Tymoshenko's forecast that the inflation rate will continue to fall is unjustified.

Suhoniako was speaking to journalists.

"In my view, [the forecast] is not justified by anything," Suhoniako said.

According to him, the fall of the inflation rate to 3.1% in April, compared with 3.8% in March, is not a sufficient reason to forecast that the inflation rate will fall further.

As Ukrainian News earlier reported, Suhoniako attributes the increase of the inflation rate in Ukraine to the political uncertainty in the country.

Tymoshenko forecast on May 7 that the inflation rate in the country would fall further in May and June.

Tymoshenko has repeated her promise that the government will lower the inflation rate to the planned rate by July.

The inflation rates in Ukraine were 3.8% in March, 3.1% in April, 9.7% in the entire January-March period, and 13.1% in the January-April period.

The Cabinet of Ministers based the 2008 state budget on an annual inflation forecast of 9.6%.

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