Ukraine: Inflation drops to a 22-month low in July
Consumer prices fell 0.7% month-on-month in July, following a flat reading in June. July’s result marked the first contraction in prices since August 2017 and was the lowest print in nearly three years. According to the State Statistics Service, the decrease in prices came on the back of lower prices for clothing and footwear, and food, which more than offset higher prices for alcoholic beverages and tobacco.
Inflation decelerated to 8.9% in July, from June’s 9.9%, marking the lowest reading since September 2016. Consequently, annual average inflation fell from 13.9% in June to 13.3% in July—an 11-month low.