Consumer price growth in Ukraine slowed to 1.8% in October 2026, following an acceleration to 2.1% in September from 0.1% in August and 0.3% in July, the State Statistics Service (Gosstat) reported on Tuesday.
The statistics agency noted that in October 2025, prices rose by 0.9%; therefore, on a year-over-year basis, inflation as of the end of October 2026 rose to 11.0% from 10.0% at the end of September and 8.1% at the end of August.
It is noted that in October 2026, core inflation also fell to 1.4% compared to 2.0% in September. However, given that it stood at 0.6% in October 2025, year-over-year core inflation rose to 9.7% from 8.8% as of the end of September.
As previously reported, the National Bank of Ukraine raised its inflation forecast for this year from 10.0% to 12.5% in late October, and for next year from 6.9% to 7.3%. According to the NBU’s estimates, the impact of shelling alone will add about 0.7 percentage points to annual inflation. Other important factors that will affect price dynamics include the impact of rising fuel prices and the expansion of fiscal stimulus measures.
Inflation in Ukraine surged to 26.6% during the first year of full-scale Russian aggression, after which it fell to 5.1% in 2023. The following year, it rose again to 12%, but by 2025, it had been brought down to 8%, partly due to the National Bank’s fairly tight monetary policy.
Source: https://stat.gov.ua/uk/publications/indeksy-tsin-u-zhovtni-2026-roku-ekspres-vypusk
