Ukrainians will have to pay more for basic products.
On an annual basis, inflation accelerated from 4.3% in June to 5.4% in July. At the same time, business expenses are only growing. And this means that food prices will soar in the near future.
The publication “Minfin” writes about this.
Manufacturers say that their margin of safety is running out, so food prices will only rise in the future.
Massive power outages in July were a particularly big blow to many enterprises. This forced factories to work on generators, and the electricity from them is several times more expensive than the grid: according to energy market expert Oleg Popenko, it can reach 20-30 hryvnia per kilowatt.
Negative trends are also confirmed by the National Bank.
“Price growth will accelerate due to the exhaustion of the effects of high harvests of previous years, significant pressure on business in the context of electricity shortages and labor shortages, the effects of the revision of administrative tariffs and excise taxes, and the negative impact of the summer drought on this year's harvest,” the NBU inflation report says.
The head of the Yaroslav concern (its structure includes the Kyiv Pasta Factory) Oleksandr Barsuk says that they have already increased the price of pasta by 2 hryvnia (to 22 hryvnia per kilogram). The arguments are the same as those of bakers – a significant increase in the price of flour.
But unlike bakers, pasta producers are suffering greatly due to power outages.
The Milk Producers Association notes that by the beginning of August, due to a reduction in milk production and its rise in price, as well as power outages, dairy products had already become more expensive.
For example, pasteurized milk increased in price by 1%compared to the previous month and 18% compared to the same period last year. Yoghurts have gone up in price by 2% over the month and by 16% compared to the same period last year.
Cheese has gone up in price by 4.6% over the month, butter by 4%, hard cheeses by 3-5%. Dairy producers do not rule out that they will have to increase prices by another 5% starting in the fall.
Recall that the day before, the NBU reported that further acceleration of inflation is expected in the coming months.due to increased business costs for labor and electricity, increased excise taxes and the carryover effects of the hryvnia devaluation.
And experts reported that food prices will rise in Ukraine in the near future. Read more about this in the news.
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