Business news from Ukraine

INFLATION IN UKRAINE UP TO 1.3% IN JAN

10 February , 2022  

The growth of consumer prices in Ukraine in January 2022 accelerated to 1.3% from 0.6% in December and 0.8% in November 2021, the State Statistics Service reported.
At the same time, in January last year, it also amounted to 1.3%, so in annual terms, inflation remained at 10%, the agency said.
Underlying inflation fell to 0.1% last month from 0.4% in December and 0.8% in November. Taking into account 0.3% in January 2021, in annual terms underlying inflation decreased to 7.6% from 7.9% in the last year.
According to the State Statistics Service, in the consumer market in January 2022 compared to December 2021, prices for food and non-alcoholic beverages increased by 2.5%. Vegetables went up in price by 20.5%, prices for eggs, fruits, bread, milk and dairy products, meat and meat products, rice, lard, butter increased by 3.9-1%. Sugar and sunflower oil fell in price by 0.8% and 0.5%, respectively.
Prices for clothes and footwear fell by 5.7%, including footwear – by 6.1%, clothing – by 5.4%.
The increase in tariffs for housing, water, electricity, gas and other fuels by 0.7% was mainly due to an increase in sewerage tariffs by 14.9%, water supply – by 12%.
Last month, transport prices increased by 1.3%, primarily due to a 2.9% increase in the cost of travel in railway passenger transport, and a 2.6% increase in fuel and lubricating oils.
In the telecommunications sector, prices increased by 1.1%, which is associated with an increase in tariffs for local telephone communications by 13.6%.
The increase in the cost of education services by 1.6% was mainly due to the increase in fees for the maintenance of children in preschool institutions by 23.3%.
As reported, in 2021 inflation in Ukraine rose to 10% from 5% in 2020 and 4.1% in 2019, while underlying inflation rose to 7.9% against 4.5% a year earlier.

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