Product prices in Ukraine approach European

In recent years, food prices in Ukraine have grown faster than European Union countries. This was reported in the inflationary report of the National Bank of Ukraine.

Thus, since 2016, food prices in Ukraine have increased by average of 79% (in Euro -equarting), while in EU countries only 46%.

At the same time, the dynamics of prices for individual commodity groups are heterogenous. Prices for bread and cereals, fruits and vegetables, water -fresh fish remain less than Europe, thanks to the lower cost of raw materials, manufacture and logistics. Sunflower oil is cheaper than 20-25%than Poland, thanks to developed domestic production.

At the same time, prices for butter in Ukraine are a bit higher than the average European – by 20-25% compared to Poland. This is due to the high cost of labor and significant state support of agricultural producers in EU countries.

Pork and dairy products are more expensive than Polish, due to industrial structural problems, while chickens and eggs are cheaper due to the effectiveness of large manufacturers and economies from the scale.

In the national bank, it is noted that the price scene price is partly determined by the Purchase Power of the Ukrainian buyer. The rapid estimate of prices for major European level products can cause a significant collapse in domestic or reorientation demand for cheaper replacement goods.

Remember that the National Bank of Ukraine in the third time this year has worsened the forecast for GDP and inflation.

According to the results of 2024, the rate of inflation in Ukraine reached 12%. In the December consumer market, food prices and soft drinks increased by 1.8%.