Inflation in Ukraine
Ukraine - Inflation
Inflation soars to over five-year high in June
Consumer prices rose 3.11% in June over the previous month, accelerating from May's 2.68% rise. The pick-up was broad-based, with greater price pressures recorded for food and non-alcoholic beverages, alcoholic beverages and tobacco, and transportation.
Inflation came in at 21.5% in June, up from May’s 18.0%. June's result was the highest inflation rate since February 2016. Annual average inflation rose to 12.9% in June (May: 11.8%). Finally, core inflation rose to 1.2% in June, from May’s 0.7%.
FocusEconomics Consensus Forecast panelists expect inflation to average 20.5% in 2022, which is down 2.0 percentage points from last month’s forecast. For 2023, the panel sees inflation averaging 13.0%.
Ukraine - Inflation Data
|Inflation Rate (CPI, annual variation in %)||48.5||14.9||14.5||11.0||7.9|
5 years of economic forecasts for more than 30 economic indicators.
Ukraine Inflation Chart
Source: State Statistics Committee of Ukraine (Ukrstat).
|Bond Yield||19.00||0.0 %||Jul 27|
|Exchange Rate||23.70||0.30 %||Jan 01|
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July 21, 2022
At its meeting on 21 July, the National Bank of Ukraine (NBU) decided to maintain its policy rate at 25.00%—the highest since March 2016—after the largest rate hike in 24 years at its June meeting. The decision not to hike further was mainly driven by the Bank’s assessment that the 1,500 basis-point hike taken at its previous meeting was enough to improve the attractiveness of the hryvnia, guarantee healthy levels of international reserves and macroeconomic stability.
July 11, 2022
Consumer prices rose 3.11% in June over the previous month, accelerating from May's 2.68% rise.
June 10, 2022
Consumer prices increased 2.68% in May over the previous month, below the 3.12% rise seen in April.
June 9, 2022
A preliminary release revealed that GDP tumbled 15.1% year on year in the first quarter of 2022, sharply contrasting the previous quarter’s 6.1% rise.
June 2, 2022
At a surprise meeting on 2 June, the National Bank of Ukraine (NBU) raised its key policy rate by 1,500 basis points to 25.00% from 10.00%.