Consumer prices in Ukraine in May 2020 increased 0.3%, while in March and April they rose by 0.8%, the State Statistics Service said on Tuesday.
In May 2019, price growth was higher – 0.7%, therefore, inflation in April 2020 year-over-year slowed to 1.7% from 2.1% in April, 2.3% in March, 4.1%.
According to the State Statistics Service, underlying inflation in May this year fell to 0.1% from 0.4% in April and the jump to 1.3% in March, whereas before that it had been falling for three consecutive months. Last May, underlying inflation was at the level of 0.2%, as a result, year-over-year it slowed down to 3%.
In May, prices for food and non-alcoholic beverages rose by 1.2% in the consumer market. Most of all prices of eggs and fruits went up (by 16.6% and 15.8%). Prices for grain processing products, rice, fish and fish products, and vegetables increased 2.3-0.8%. At the same time, meat and meat products, lard, butter, sugar, sunflower oil, sour-milk products, milk fell in price by 1.6-0.2%.
Prices for alcoholic beverages and tobacco products increased 1.1%, which is linked to a rise in price of tobacco products by 2.0%.
Clothing and shoes prices fell by 1.4%, in particular, clothing – by 2.0%, and shoes – by 0.7%
The decrease in prices (tariffs) for housing, water, electricity, gas and other types of fuel by 2.8% was mainly due to the reduction in the price of natural gas by 16.8%.
Transport prices decreased 2.0%, primarily due to cheaper fuel and lubricants by 8.6%.
The National Bank of Ukraine at the end of January improved its inflation forecast for 2020 from 5% to 4.8%, but in April it worsened this indicator to 6%.
According to the central bank, in the first half of this year, inflation in annual terms will be 4.8%.
