Monthly prices for food and non-alcoholic beverages in the consumer market decreased by 3.7%.
In August, deflation was recorded in Ukraine for the second consecutive month – consumer prices fell by 1.4% after a decrease of 0.6% in July and an increase of 0.8% in June. The State Statistics Service announced this on Friday, August 9.
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“Consumer prices decreased by 1.4% in August 2023 compared to July 2023, and since the beginning of the year they have increased by 2.5%,” the report said.
It was noted that the main inflation in August 2023 compared to the previous month was 0.0%, and since the beginning of the year – 3.2%.
On an annual basis, inflation stood at 8.6% in August, down from 11.3% in July. This is the lowest amount since April 2021.
According to the State Statistics Service, vegetables fell the most in August – by 37.6%. Overall, prices for food and non-alcoholic drinks fell by 3.7% last month. Fruits, processed grain products, vegetable oil, sunflower oil, cheese, and eggs fell in price by 4.2-0.1%. At the same time, prices for sugar, oil, meat and meat products, bread, fermented milk products, and soft drinks increased by 2.0-0.5%.
Fuel prices for other goods rose dramatically – by 7.4%. This happened because of the tax increases from July 1.
We remind you that in July the National Bank of Ukraine revised its forecasts for inflation and GDP levels towards improvement.
Also, the NBU for the first time since June 2022 reduced the discount rate to 22% from 25%. This step should contribute to economic recovery.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.