Inflation in Ukraine, which fell to 5.1% in 2023 after jumping to 26.6% a year earlier, rose to 12.0% in 2024, the State Statistics Service (Ukrstat) reported on Friday.
According to its data, consumer price growth in the country in December 2024 slowed to 1.4% from 1.9% in November, 1.8% in October and 1.5% in September.
The statistics agency recalled that in December 2023, consumer prices rose by 0.7%, so in annual terms, inflation in December 2024 increased to 12% from 11.2% in November, 9.7% in October, and 8.6% in September.
It is indicated that in December 2024, core inflation rose to 1.3% from 1.2% in November, returning to the level of October. Taking into account that in December 2023 it was zero, in annual terms, core inflation in 2024 rose to 10.7% from 4.9% in 2023, while in 2022 it was 22.6%.
At the end of October, the National Bank of Ukraine downgraded its inflation forecast for 2024 from 8.5% to 9.7%, and for 2025 from 6.6% to 6.9%.
The Ministry of Economy of Ukraine forecasted inflation at 9.5% in 2024 and expects it to be at the same level in 2025.
