Ukraine Inflation July 2022


Ukraine: Inflation hits an over six year-high July

August 11, 2022

Consumer prices rose 0.70% in July over the previous month, slowing down from the 3.11% increase logged in June. July's result marked the weakest reading since December 2021. Looking at the details of the release, transportation prices dropped in July compared to the previous month, while prices for housing, water, electricity, gas and other fuels grew at a more subdued pace. Conversely, price pressures for alcoholic beverages and tobacco picked up pace

Inflation rose to 22.2% in July, above June’s 21.5%. July's figure marked the highest inflation rate since February 2016. Meanwhile, the trend pointed up, with annual average inflation coming in at 13.9% in July (June: 12.9%). Lastly, core inflation ticked up to 1.3% in July, from the previous month's 1.2%.

FocusEconomics Consensus Forecast panelists expect inflation to average 21.3% in 2022, which is up 0.8 percentage points from last month’s forecast. For 2023, the panel sees inflation averaging 15.1%.


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Ukraine Inflation Chart

Ukraine Inflation July 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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