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 2025 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 hit a nine-month low in September
Latest reading: Consumer prices rose 11.9% in annual terms in September, following a 13.2% increase in the previous month and hitting a nine-month low. That said, inflation remains well above the Central Bank's 5.0% inflation target. Relative to the previous month's data, there were reduced price pressures for food and non-alcoholic beverages (+17.4% yoy vs +20.5% in August), housing, water, electricity, gas and other fuels (+2.3% vs +2.4% in August) plus transportation (+5.8% vs +6.5% in August). Meanwhile, core consumer prices were up 11.0% on a year-on-year basis in September, following a 11.4% increase in the prior month. Lastly, consumer prices rose 0.30% in September in month-on-month terms, following a 0.20% fall in the prior month.
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 27 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.
Latest Global Inflation News
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United States: Inflation rises in September from August Latest reading: Consumer prices rose 3.0% on a year-on-year basis in September, following a 2.9% increase in the prior month.... -
Hong Kong: Inflation stabilizes in September from August Latest reading: Consumer prices rose 1.1% on a year-on-year basis in September, unchanged from the prior month’s reading. As such,... -
United Kingdom: Inflation stabilizes in September from the prior month Latest reading: Consumer prices increased 3.8% on a year-on-year basis in September, stable from the previous month’s reading. September’s reading... -
Canada: Inflation rises in September from August Latest reading: Consumer prices increased 2.4% in annual terms in September, following a 1.9% increase in the prior month. September’s... -
Israel: Inflation decelerates in September from August Latest reading: Consumer prices rose 2.5% in annual terms in September, following a 2.9% rise in the previous month and... -
New Zealand: Inflation ticks up in Q3 Latest reading: Inflation rose to 3.0% in Q3 2025 from 2.7% in Q2, in line with market expectations and hitting... -
Greece: Inflation slows in September from August Latest reading: Harmonized consumer prices rose 1.8% in annual terms in September, following a 3.1% rise in the previous month....