Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Ukraine
Consumer price inflation in Ukraine averaged 14.6% in the ten years to 2024, in line with the CIS Countries regional average of 7.9%. The 2024 average figure was 6.5%. For more information on inflation, visit our dedicated page.
Ukraine Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Ukraine from 2014 to 2024.
Source: Macrobond.
Ukraine Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.7 | 9.3 | 20.1 | 13.4 | 6.5 |
| Inflation (CPI, ann. var. %, eop) | 5.0 | 10.0 | 26.6 | 5.1 | 12.0 |
| Inflation (PPI, ann. var. %, eop) | -1.6 | 40.8 | 47.3 | 24.2 | 19.7 |
Inflation eases in July
Latest reading: Inflation fell to 14.1% in July from June’s 14.3%, marking a five-month low and the second consecutive decrease in price pressures. The moderation was due to softer price growth for food and hospitality. The joint-lowest increase in prices for housing and utilities in over three years also capped the rise. Still, the headline figure remained above the Central Bank’s 5.0% target, with price pressures for transport picking up from June. Annual average inflation rose to 12.4% in July from 11.7% in June. Meanwhile, core inflation ticked down to 11.7% in July (June: 12.1%). Finally, consumer prices fell 0.20% in July, contrasting June’s 0.80% increase.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Ukrainian inflation projections for the next ten years from a panel of 29 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Ukrainian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Ukrainian inflation projections.
Want to get access to the full dataset of Ukrainian inflation forecasts? Send an email to info@focus-economics.com.
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