According to the State Statistics Committee, in January-December 2004 consumer prices rose by 12.3%. This is reported by "Ukrainian News". \n \nIn particular, prices for food products in January-December rose by 15.3%, for non-food products - rose by 5.4%, for services - rose by 7.9%. \n \nRecall that initially the Cabinet of Ministers forecast inflation in 2004 within the range of 5.8-6.3% (December to December of the previous year), average annual inflation at the level of 6.7%. In September the Ministry of Economy worsened the inflation forecast for 2004 from 6.3 to 7-7.6%. In October the Cabinet worsened the inflation forecast in 2004 from 7-7.6% to 8.5%, in November - from 8.5% to 9.5%, in December - to 10.5% (December to December). At the end of December the Ministry of Economy worsened the inflation forecast for 2004 to 12%, and also forecasts high inflation in the first quarter of 2005. \n \nAmong the factors that provoked the growth of inflation rates in 2004, the Ministry of Economy names the uneven expenditure by the government of budget funds on the social sphere during the year. Among the inflationary risks the Ministry of Economy also names the growth of producer prices, in particular in the energy market and in the food market. \n \nIn December the Cabinet also worsened the inflation forecast for 2005 from 7.1% to 8.7% (December to December), laying down such an indicator during the revision of the state budget for 2005. At the same time, under the optimistic scenario, the Cabinet forecasts inflation in 2005 at the level of 7%. \n \nIn 2003 inflation was 8.2%. \n