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Ukraine Inflation December 2023

Ukraine: Inflation remains stable in December

Inflation held steady at November’s 5.1% in December. Lower price pressures for housing and utilities and transportation offset stronger price growth for food and non-alcoholic beverages.

Annual average inflation fell to 13.4% in December (November: 15.2%). Meanwhile, core inflation fell to 4.9% in December, from November’s 5.7%.

Finally, consumer prices rose 0.69% over the previous month in December, accelerating from the 0.51% rise recorded in November.

Analysts at the EIU commented on the outlook:

“The pace of disinflation will slow in 2024 as the one-off effects of a 2023 fall in food prices caused by export constraints disappear and economic growth picks up. […] Expansionary fiscal spending remains a risk for inflation, but the concentration of government expenditure in a single sector, the managed float in the first half of the forecast period, and the financing of deficits through aid and concessional loans will prevent a serious build-up of inflationary pressures in the wider economy.”

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