Ukraine’s inflation falling month on month but up to 26.6% y/y

Ukraine’s inflation falling month on month but up to 26.6% y/y
Ukraine’s inflation falling month on month but up to 26.6% y/y Consumer price growth in Ukraine remained unchanged in December 2022, at 0.7% m/m, the same as in November, but lower than previous months, according to the State Statistics Service of Ukraine / bne IntelliNews
By bne IntelliNews January 10, 2023

Consumer price growth in Ukraine remained unchanged in December 2022, at 0.7% month on month, the same as in November, but lower than previous months, according to the State Statistics Service of Ukraine on January 10, Interfax Ukraine reports.

This is a significant decrease compared to the growth in October, which stood at 2.5%, as well as 1.9% in September and 1.1% in August, returning to July levels.

In December 2021, inflation was recorded at 0.6%, bringing year-on-year inflation to 26.6%, slightly higher than the 26.5% recorded at the end of November. (chart)

Underlying inflation also fell last month, decreasing to 0.8% in December from 1.3% in November, 1.9% in October, 2.4% in September and 2.1% in August. For the year, underlying inflation was recorded at 22.6%, according to the State Statistics Service.

In mid-October, the National Bank of Ukraine (NBU) kept its inflation forecast for 2022 at 30%, while the government revised its forecast from 30.1% to 29.3% at the end of the same month.

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

Data

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