Latest reading: Inflation eased to 1.5% in May, below April’s 2.0%. May’s figure marked the weakest inflation rate since March...
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 rises to over one-year high in November
Latest reading: Inflation jumped to 11.2% in November, up from October’s 9.7% and moving further above the National Bank of Ukraine’s (NBU) 5.0% target. November's result represented the highest inflation rate since July 2023 and was higher than the NBU had anticipated. The reading was driven by sharper price rises for food and non-alcoholic beverages, housing and utilities, and hospitality. However, transport costs grew at a softer rate. Annual average inflation rose to 5.9% in November (October: 5.4%). Meanwhile, core inflation rose to 9.3% in November from the previous month's 8.3%. Lastly, consumer prices rose 1.89% over the previous month in November, accelerating from the 1.81% rise logged in October. November's result marked the highest reading since June.
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 30 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.
Latest Global Inflation News
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