Business news from Ukraine

INFLATION IN UKRAINE ACCELERATES TO 11% IN SEPTEMBER

9 October , 2021  

The year-over-year growth of consumer prices in Ukraine in September 2021 accelerated to 11% from 10.2% in August, the State Statistics Service reported on Friday.
According to the service, after deflation of 0.2% in August, inflation was recorded at 1.2% in September this year, while in September last year, inflation was 0.5%.
In addition, the State Statistics Service last month recorded underlying inflation at 1.3% after zero underlying inflation in August 2021. In September last year, underlying inflation was 1.1%.
In the consumer market in September, prices for food and non-alcoholic beverages grew by 1.1%. Most of all (by 13.6%) eggs have risen in price. Prices for lard, vegetables, milk and dairy products, meat and meat products, butter and bread rose by 3.7-1.1%. At the same time, fruits, sunflower oil and sugar fell in price by 3.4-0.1%.
Prices for alcoholic beverages and tobacco products grew by 0.8%, which is associated with a rise in prices for tobacco products by 1.1%.
Clothes and footwear went up in price by 7.9%, including footwear – by 8.2%, clothes – by 7.6%.
The rise in prices (tariffs) for housing, water, electricity, gas and other fuels by 0.5% was mainly due to an increase in prices for natural gas by 1.8%, maintenance and repair of housing – by 1.4%, and housing rent – by 0.9%.
Transport prices decreased 0.1% due to a decrease in the cost of travel in railway passenger transport by 1.7%, fuel and oils – by 0.2%.
Education services have risen in price by 13.2%, namely: high education – by 17.3%, medium education – by 11.5%.
As reported, in August and July consumer prices rose by 10.2%, in June – by 0.2%, in May – by 1.3%.
In January-August 2021, inflation in Ukraine amounted to 7.5%, and underlying inflation was 5.5%.
The National Bank of Ukraine forecasted inflation in September-October at the level of 10-11% with a further decline below 10%.