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Main article: Economy of Ukraine
2023: Inflation cut to 8.6%
Inflation in Ukraine in August 2023 fell to 8.6%, the July figure is 11.3%.
2022: Inflation 26.6%
Prices for eggs, vegetables and fruits spurred inflation in Ukraine in October 2022 to a six-year high, up to 26.6%, it is approaching its expected peak of 30% by the end of the year. Nevertheless, the Central Bank said that inflation remains below its expectations and is "quite moderate."
Prior to this, inflation in Ukraine grew for the sixth month in a row, partially spurred by the decision of the Central Bank to devalue the currency. Consumer prices rose 22.2% in July 2022; economists expected 23.2%. The Central Bank of Ukraine expects consumer price growth to exceed 30% by the end of the year.
July
Inflation in Ukraine accelerated in June 2022 and amounted to 21.5% in annual terms.
In May 2022, inflation in Ukraine amounted to 18%.
Consumer prices in January 2022 in Ukraine increased by 10% compared to a year earlier, analysts predicted 9.8%.
The Central Bank revised its inflation forecast for 2022 to 7.7% from 5%, with a return to the target range in 2023.
2021: Inflation above 10%
In May 2021, inflation reached a two-year high of 9.5%, exceeding the expectations of both analysts and the National Bank of Ukraine.
2015: Inflation 39.3%
Inflation in January-July 2015 amounted to 39.3%.
2013: Annual inflation forecast + 4.8 %
The forecast of the Ukrainian government for 2013 provided for an increase in consumer prices at the level of 4.8%, while in the first quarter they increased by only 0.1%.
In April 2013, it is proposed to compensate for low economic growth by accelerating inflation - in 2014 it is expected at the level of 8.3%.
"Instability in the global financial and commodity markets will lead to objective situational price fluctuations, including energy costs. And this can cause a temporary fluctuation in the consumer price index, "the government document says.
Along with a sharp acceleration in price growth, the government expects to keep basic inflation (does not take into account prices for goods prone to seasonal fluctuations) in 2014 at the level of 4-6%. According to Maryan Zablotsky, an analyst at the Ukrainian Agrarian Association, such a difference between consumer and base inflation means that a sharp rise in food prices, the cost of which is decreasing in 2012-2013, may become a serious factor in accelerating price growth in 2014.
Such a sharp acceleration of inflation also turned out to be unexpected for experts - according to the consensus forecast, consumer inflation in 2014 will be no more than 5.9%.
"Thereare no grounds for such a sharp jump in prices yet - for example, we expect inflation in 2014 at 3.4%," said Elena Belan, leading economist at Dragon Capital Investment Company. "It is quite possible that the Cabinet of Ministers needs a high forecast of price growth for a formal increase in nominal GDP - an indicator that directly affects the budget."
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