Inflation in Ukraine slows to 11.3% in annual terms - statistics service

Inflation in Ukraine slows to 11.3% in annual terms - statistics service

Consumer prices in July 2023 decreased by 0.6% compared to June. On an annualized basis, inflation was 11.3%.

The State Statistics Service reported this, Ukrinform says.

"Consumer prices in July 2023 decreased by 0.6% compared to June 2023, and have increased by 4.0% year to date. Core inflation in July 2023 compared to June 2023 amounted to 0.0%, and to 3.2% year to date," the report reads.

By July 2022, consumer prices had risen by 11.3%.

According to the State Statistics Service, in July, prices for food and non-alcoholic beverages in the consumer market decreased by 1.9%. Vegetables fell the most (by 18.2%). Prices for eggs, processed cereals, rice, fruit, salo, sunflower oil, and dairy products fell by 7.6-0.4%.

At the same time, prices for meat and meat products, sugar, fish and fish products, and soft drinks increased by 1.4-0.5%.

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Prices for alcoholic beverages and tobacco products increased by 1.0%, including 1.5% for tobacco products and 0.6% for alcoholic beverages.

Transportation prices increased by 2.7%, mainly due to a 7.3% increase in fuel and oil prices.

In the communications sector, prices increased by 0.3%, driven by a 5.8% rise in postal services.

As reported, in June 2023, inflation in Ukraine in the consumer market was 0.8% compared to 0.5% in May; year to date, prices have risen by 4.6%. In annual terms, prices increased by 12.8%.

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