Prices for everything are rising: inflation in Ukraine has broken a six-year record

Consumer prices in July this year in Ukraine rose by 22,2% year on year, accelerating against 21,5% a month earlier.

This is evidenced by State Statistics data.

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The last time annual inflation of more than 22% was recorded was in February 2016, or 6,5 years ago.

Inflation in the consumer market in July compared to June was 0,7%, since the beginning of the year - 18,2%. Core inflation in July compared to June was 1,2%, since the beginning of the year - 12,7%.

In July, prices for food and non-alcoholic drinks increased by 0,8%, over the year - 28,9%.

_{Eggs rose in price the most – by 8,7% – over the month. Prices for processed grain products, rice, pork, lard, fish and fish products, soft drinks, bread, and butter increased by 5,1–1,1%. At the same time, vegetables have risen in price the most over the year – doubling (+101,6%).}

Prices for alcoholic beverages and tobacco products increased over the month by 1,3%, incl. for tobacco products – by 1,8%, alcoholic beverages – by 0,8%.

Clothing and footwear fell in price over the month by 3,5%, in particular, shoes - by 3,8%, clothing - by 3,2%.

The increase in tariffs for housing, water, electricity, gas and other fuels in July by 0,5% was mainly due to increased prices for garbage collection (+2,4%) and housing maintenance and repairs (+1,8% ). At the same time, on an annual basis, utility tariffs increased by 3,6%.

The increase in prices in the healthcare sector in July by 0,5% was primarily due to an increase in the cost of outpatient services by 1,4%. On an annual basis, prices in the industry increased by 13,6%.

In the communications sector, prices increased by 2,1%, which is due to an increase in the cost of mobile communications by 4,1% and postal services by 2,6%.

_{As a result of the effects of the war, inflation in Ukraine, according to the National Bank, will exceed 30% this year, but will slow down in subsequent years. At the same time, according to an optimistic forecast, inflation is expected to return to pre-war levels no earlier than the end of 2024.}