Inflation in Ukraine reaches 26.6% in 2022 – statistics

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KYIV. Jan 10 (Interfax-Ukraine) – Consumer price growth in Ukraine in December 2022 remained at the level of November – 0.7% compared to 2.5% in October, 1.9% in September and 1.1% in August, returning to July level, the State Statistics Service of Ukraine reported on Tuesday.

In December last year, inflation was recorded at 0.6%, so at the end of the year the year-over-year inflation amounted to 26.6% compared to 26.5% at the end of November.

Underlying inflation fell to 0.8% last month from 1.3% in November and 1.9% in October, 2.4% in September and 2.1% in August.

In general, for this year, underlying inflation was 22.6%, the State Statistics Service said.

In the middle of October, the National Bank kept its inflation forecast for 2022 at 30%, while the government improved it from 30.1% to 29.3% at the end of October.

In the consumer market in December, prices for food and non-alcoholic beverages rose by 0.7%. Butter, milk and dairy products, bread, fruits, vegetables, soft drinks, fish and fish products went up in price by 2.5-0.9%. At the same time, grain processing products, eggs, sugar, poultry meat, lard, pork, and rice fell in price by 2.7–0.1%.

Prices for alcoholic beverages and tobacco products grew by 0.7%, which is linked to an increase in the price of tobacco products by 1.7%.

Clothing and footwear fell in price by 2.6%, including clothing by 3.0%, footwear by 2.4%.

The increase in prices in the healthcare sector by 0.9% was primarily due to the rise in the cost of outpatient services by 1.3% and pharmaceutical products by 1.0%.

Transportation prices rose by 1.6% mainly due to a 3.1% increase in fuel and lubricating oil prices.

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% versus 4.5% a year earlier.

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