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Inflation in Ukraine in October rose to 26.6% on yearly base

13 Nov, 2022
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Inflation in Ukraine in October rose to 26.6% on yearly base

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The growth of consumer prices in Ukraine in October 2022 accelerated to 2.5% from 1.9% in September, 1.1% in August and 0.7% in July, as reported by the State Statistics Service (Gosstat).


In October last year, inflation of 0.9% was recorded, so in annual terms, in October this year, it rose to 26.6% from 24.6% in September, 23.8% in August, 22.2% – according to the results of July and 21.5% – according to the results of June.

Core inflation fell to 1.9% last month from 2.4% in September and 2.1% in August.

Since the beginning of this year, over ten months, consumer prices in Ukraine have increased by 24.8%, while core inflation was 20.1%, the State Statistics Service said.

In mid-October, the National Bank kept its inflation forecast for 2022 at 30%, while the government improved it from 30.1% to 29.3% at the end of October.

In the consumer market in October, prices for food and non-alcoholic beverages rose by 4.2%. Most of all (by 60.5%) eggs have risen in price. Prices for lard, vegetables, fruits, meat and meat products, soft drinks, fish and fish products, cheeses, butter, and milk increased by 11.3-2.3%. At the same time, grain processing products fell in price by 4.8%.

Prices for alcoholic beverages and tobacco products increased by 0.9%, incl. for tobacco products – by 1%, alcoholic beverages – by 0.8%.

Clothing and footwear rose in price by 1.9%, including footwear – by 2.1%, clothing – by 1.7%.

The 1.2% increase in prices in the healthcare sector was primarily due to the increase in the cost of hospital services by 1.8% and outpatient services – by 1.6%.

Transportation prices rose by 0.8%, mainly due to a 1.5% increase in vehicle prices. At the same time, fares in railway passenger transport fell by 5.1%.

As reported, in 2021 inflation in Ukraine rose to 10% from 5% in 2020 and 4.1% in 2019, while core inflation rose to 7.9% against 4.5% a year earlier.


The Odessa Journal

The Odessa Journal

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