Latest reading: Consumer prices fell 0.1% on an annual basis in May, swinging from April’s 0.4% increase. May’s result marked...
Inflation in Ukraine
In the year 2024, the inflation in Ukraine was 6.49%, compared to 12.14% in 2014 and 13.39% in 2023. It averaged 14.63% over the last decade. For more inflation information, visit our dedicated page.
Ukraine Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Ukraine from 2014 to 2024.
Source: Macrobond.
Ukraine Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.7 | 9.3 | 20.1 | 13.4 | 6.5 |
| Inflation (CPI, ann. var. %, eop) | 5.0 | 10.0 | 26.6 | 5.1 | 12.0 |
| Inflation (PPI, ann. var. %, eop) | -1.6 | 40.8 | 47.3 | 24.2 | 19.7 |
Inflation comes in at highest level since May 2023 in April
Latest reading: Inflation came in at 15.1% in April, which was up from March’s 14.6%. April's result was the highest inflation rate in almost two years. The result was driven by increasing price pressures for food, alcoholic beverages, hospitality and communication. Meanwhile, price growth for housing, water, electricity, gas and other fuels and transportation softened. The trend pointed up, with annual average inflation coming in at 9.9% in April (March: 8.9%). Meanwhile, core inflation fell to 12.1% in April from March’s 12.4%. Lastly, consumer prices rose 0.70% in April over the previous month, which was below the 1.50% rise seen in March. April's result marked the weakest reading since August 2024.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Ukrainian inflation projections for the next ten years from a panel of 28 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Ukrainian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Ukrainian inflation projections.
Want to get access to the full dataset of Ukrainian inflation forecasts? Send an email to info@focus-economics.com.
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