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.