Ukraine Inflation May 2022

Ukraine

Ukraine: Inflation comes in at highest level since March 2016 in May

June 10, 2022

Consumer prices increased 2.68% in May over the previous month, below the 3.12% rise seen in April. May's result marked the weakest reading since February. The cooling of price pressures was primarily driven by slower growth in prices for food and non-alcoholic beverages. Moreover, prices for housing, water, electricity, gas and other fuels grew at a more subdued pace.

Inflation came in at 18.0% in May, which was up from April’s 16.4%. May's result was the highest inflation rate since March 2016. Meanwhile, the trend pointed up, with annual average inflation coming in at 11.8% in May (April: 11.1%). Finally, core inflation fell to 0.7% in May, from the previous month's 2.3%.

FocusEconomics Consensus Forecast panelists expect inflation to average 22.5% in 2022, which is unchanged from last month’s forecast. For 2023, the panel sees inflation averaging 14.4%.


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Ukraine Inflation May 2022

Note: Year-on-year and month-on-month changes of consumer price index in %.
Source: State Statistics Service of Ukraine.


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