Ukraine: Inflation hits over two-year high in May
Latest reading: Inflation came in at 15.9% in May, which was up from April’s 15.1% and was the highest one since April 2023. Food price pressures rose at the sharpest pace in over two years and continued to fuel overall inflation due to last year’s drought, a decline in agricultural supply and rising energy spending amid Russian attacks on critical infrastructure.
Annual average inflation rose to 10.9% in May (April: 9.9%). Meanwhile, core inflation ticked up to 12.3% in May from April’s 12.1%.
Finally, consumer prices increased 1.30% in May over the previous month, accelerating from April’s 0.70% rise.