Ukraine: Inflation increases in September

Inflation rose to 24.6% in September, above August’s 23.8%. September's reading was the highest inflation rate since February 2016. The pick-up was broad-based, with greater price pressures recorded for food and non-alcoholic beverages, housing, water, electricity, gas and other fuels, and transportation.

The trend pointed up, with annual average inflation coming in at 16.2% in September (August: 15.0%). Meanwhile, core inflation fell to 1.1% in September, from the previous month's 2.1%.

Finally, consumer prices increased 1.90% from the previous month in September, picking up from August's 1.10% rise.

The panel sees inflation averaging 21.5% in 2022, which is down 0.2 percentage points from last month’s forecast. For 2023, the panel sees inflation averaging 19.9%.