Annual inflation rate in Ukraine down to 17.9% in April, from 21.3% in March – statistics service

The core inflation rate also fell to 0.5% in April, down from 1.5% in March, returning to February’s level. Compared to April last year, when the core inflation rate was 3.0%, the annual core inflation rate in April 2023 also decreased to 17.2%, from 20.1% in March and 22.7% in February.

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Since the beginning of the year, total inflation in Ukraine was 3.2%, and the core inflation rate was 3.0%.

In the consumer market, prices for food and non-alcoholic beverages rose by 0.4%, with pork experiencing the largest increase in price (by 7.4%). Prices for beef, poultry, dairy products, non-alcoholic beverages, fish, and fish products, bread, and vegetables increased by 1.8% to 0.3%.

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However, prices for eggs decreased by 8.7%, and prices for processed grain products, sunflower oil, fruits, rice, milk, and sugar decreased by 1.9% to 0.3%.

Meanwhile, prices for alcoholic beverages and tobacco products increased by 1%, including a 1.3% increase in tobacco products and a 0.8% increase in alcoholic beverages.

Pharmaceutical products became 1.2% more expensive, while transport prices decreased by 0.7% due to cheaper fuel and oil by 2.4%. Train tickets increased by 0.8%.

As previously reported, the National Bank of Ukraine improved its inflation forecast for this year from 18.7% to 14.8%. In particular, the regulator expects a decrease in inflation to 14.5% by the end of the first half of the year. In addition, the central bank predicts an almost 16% recovery in the economy from the second quarter.

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In January, the annual inflation rate slowed down to 26%, while in February, it decreased to 24.9% in the annual measurement.

In March, inflation in Ukraine slowed down to 21.3% in the annual measurement.

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