Ukraine Inflation January 2021


Ukraine: Inflation hits highest level since October 2019

March 9, 2021

Consumer prices rose 1.31% over the previous month in January, quickening from the 0.91% increase logged in December 2020. January’s reading was largely driven by a marked acceleration in prices for housing and utilities, as well as a rise in price pressures for transport.

Inflation rose to 6.1% in January from 5.0% in December, the highest reading since October 2019 and landing just above the upper bound of the Central Bank’s target range of 4.0%-6.0%. Annual average inflation rose to 3.0% from the prior month’s 2.7%. Lastly, core inflation jumped to 5.0% (December: 4.5%).

FocusEconomics Consensus Forecast panelists project inflation to end 2021 at 6.2%, which is up 0.4 percentage points from last month’s forecast. For 2022, the panel sees year-end inflation at 5.3%.


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Ukraine Inflation Chart

Ukraine Inflation January 2021 0

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

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