Ukraine Inflation


Ukraine: Inflation hits 20-year high in 2015

January 6, 2016

Consumer prices rose 0.7% in December over the previous month, which was a more moderate increase than November’s 2.0% rise. According to State Statistics Service of Ukraine, the result was mainly driven by a smaller rise in food and beverage prices compared to the previous month. However, prices for clothing and footwear as well as transport fell compared to the previous month.

Inflation ended 2015 at 43.3%, which marked the highest reading since 1995 (2014: 24.9%). Inflation has remained at historically high levels since skyrocketing at the onset of the military conflict in Eastern Ukraine. In addition, average inflation rose from 12.1% in 2014 to 48.5% in 2015, which marked the highest reading since 1996.

FocusEconomics Consensus Forecast panelists expect inflation to end 2016 at 15.0%, which is up 0.5 percentage points from last month’s forecast. For 2017, the panel sees inflation easing to 9.7%.

Author: Angela Bouzanis, Senior Economist

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Ukraine Inflation Chart

Ukraine Inflation December 2015

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

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