The highest annual price increase was recorded in the energy sector – by 56.2%.
Industrial inflation in Ukraine has begun to slow down – in annual terms it already amounts to 31.2%, the increase in prices for industrial products compared to July amounted to 2.2%.
This is evidenced by data from the State Statistics Service.
According to the agency, rapid annual growth in prices for services is observed in the energy sector, where the indicator reached 56.2%. Also, in annual terms, the price index increased by 7.4% in the mining industry and by 9.2% in the processing industry.
Compared to July, prices for industrial products in August increased by 2.2%. In particular, in the mining industry, prices increased by 0.4%, in the processing industry – by 1.1%, and in the energy sector – by 3.6%.
Recall that the rise in electricity prices in June provoked an increase in both consumer and industrial inflation. The producer price index (PPI) of industrial products in Ukraine in June increased by 14% compared to May.
According to the NBU, inflation will gradually increase, in particular in the coming months as a result of continued market pressure on businesses, which will be forced to spend more money to support production processes. The growth of inflation will also be driven by the exhaustion of the effect of significant harvests of previous years and a new factor – the expected increase in excise taxes.
Inflation will grow moderately in the coming months primarily due to continued pressure on business costs, the exhaustion of the effect of significant harvests of last year and the expected increase in excise taxes.