Inflation in Ukraine will increase until July, - NBU

Inflation in Ukraine will increase until July, - NBU

In February 2025, Ukraine experienced accelerated price increases for bread, meat, sunflower oil, cheese and dairy products, tea, coffee, and chocolate. These items were highlighted by the National Bank in its inflation commentary today, which explains the inflation increase over the past month—from 12.9% in January to 13.4% in February.

"In February, the annual growth rate of raw food prices accelerated. Fruits, certain livestock products, flour, and cereals became more expensive due to the prolonged effects of last year’s poor harvests. The cost of pork, poultry, and sugar approached the price levels of trading partner countries amidst sustained exports," the NBU’s conclusion states.

The regulator also noted that prices for processed food products in February increased faster than the overall inflation index—by 16.7% annually. Additionally, the cost of services rose by 14.3%, particularly in transportation, communication, healthcare, recreation, and culture.

Furthermore, the National Bank noted the increase in prices for medicines, medical goods, and medical equipment, attributing this to rising production costs. The price of autogas also increased.

Meanwhile, the NBU forecasts further inflation growth until July.

"Inflation will rise in the coming months due to the ongoing impact of last year’s adverse harvests and increased enterprise costs for energy supply and labor," reported the National Bank.