Consumer price growth in Ukraine slowed to 0.7% in February 2023 from 0.8% in January, returning to the level of December last year, the State Statistics Service (Gosstat) said on Friday. According to its data, 1.6% inflation was recorded in February-2022, so in annual terms in February-2023 it fell to 24.9% from 26% in January and from 26.6% in December last year.
Core inflation in the past month fell to 0.5% from 0.7% in January and 0.8% in December 2022, the Gosstat said.
With core inflation at 1% in February 2022, year-over-year core inflation also fell to 22.7% in January from 23.3%, just above last year’s 22.6%.
In the consumer market in February, prices for food and non-alcoholic beverages have increased by 1.5%. Vegetables went up most of all (by 13.9%). Fruit, poultry, fish and fish products, bread, milk and dairy products, pasta and soft drinks rose by 1.4-0.4%. At the same time, processed cereal products, eggs, rice, bacon, beef, pork and sunflower oil went down in price by 2.3-0.4%.
The prices of alcoholic beverages and tobacco products rose by 1.1%, including tobacco products – by 1.4% and alcoholic beverages – by 0.9%.
Clothing and footwear fell in price by 3.2%, including clothing by 3.2% and footwear by 3.1%.
An increase in prices in the health sector by 0.8% was primarily due to a 1.6% increase in the cost of outpatient services and hospital services.
Transport prices fell by 1.7% due to the decline in fuel and lubricants by 5.3%, as well as train fares by 1.5%.
As it was reported in January, the National Bank of Ukraine improved its inflation forecast for this year from 20.8% to 18.7%, including down to 23.6% in the first quarter and to 18.7% in the first half of the year.
The government this week also reported that its inflation forecast for the current year has been lowered to 24% from 28%.
