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Inflation in Ukraine is at a three-year low

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The price of vegetables increased the most in the past month – by 14.0%. But they cost on average 20.2% cheaper than a year ago.

Consumer price growth in Ukraine accelerated to 0.8% in October compared to 0.5% in September. But annual inflation has slowed to its lowest level in nearly three years. This was confirmed by the data of the State Statistics Service on Thursday, November 9.

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So, since the beginning of 2023, prices have increased by 3.8%. At the same time, annual inflation – in October last year – slowed to 5.3%. This is the lowest value since December 2020.

Food prices rose 1.0% in October. Vegetables rose in price the most during the entire month – by 14.0%. But they cost on average 20.2% less than a year ago.

Eggs rose in price by 10.1%, but 15% cheaper than in October last year.

Prices for milk and dairy products, beef, butter, oil, soft drinks, and bread increased by 2.1–0.6%.

At the same time, prices for processed grain products, sunflower oil, fruit, sugar, rice, pork, chicken, and pasta decreased by 5.3-0.1%.

Prices for alcoholic beverages and tobacco products increased by 0.4%, linked to a 0.9% increase in the price of tobacco products.

The increase in prices in the health care sector by 0.4% was mainly due to the increase in the cost of outpatient services by 0.9% and hospital services by 0.6%.

Transportation prices increased by 1.5% mainly due to a 3.5% increase in prices for gasoline and lubricating oil. At the same time, rail passenger transportation fares decreased by 5.7%.

We remind you that for the third time in a year, the National Bank improved its forecast for GDP growth and the rate of decline in inflation by the end of 2023. The regulator also improved the economic forecast for next year.

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Source: korrespondent

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