Ukraine posts first deflation in 10 years

For the first time since 2002, the annual inflation rate in Ukraine fell to minus 0.2 percent last year, driven by cheaper foods prices, the State Statistics Service said Tuesday. In 2012, vegetable prices were down 22 percent, eggs prices decreased by 20 percent, while sugar prices fell 17 percent, the statistics committee said in a report. Ukraine's consumer prices in December rose 0.2 percent on a monthly basis after falling 0.1 percent in November, the agency said. The rise in December was mainly due to increased prices for transport and utility services, it said. Ukraine ended 2011 with an annual inflation rate of 4.6 percent, while in 2002 the East European country posted a 0.6-percent deflation.