Ukraine Inflation January 2021


Ukraine: Inflation jumps to over one-year high at start of 2021

February 11, 2021

Consumer prices rose 1.31% from the previous month in January, below December 2020’s 0.91% increase. January’s result was primarily driven by quicker price growth for housing and utilities, and transport.

Inflation leaped from 5.0% in December to 6.1% in January, the highest reading since October 2019 and landing slightly above the Central Bank’s target range of 5.0% plus or minus 1.0 percentage point. Annual average inflation edged up to 3.0% from 2.7% in the previous month. Lastly, core inflation rose to 5.0% (December 2020: 4.5%).

FocusEconomics Consensus Forecast panelists project inflation to end 2021 at 5.8%, which is up 0.1 percentage points from last month’s forecast. For 2022, the panel sees year-end inflation at 5.1%.


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Ukraine Inflation Chart

Ukraine Inflation January 2021

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

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