In the coming months, prices will grow faster in Ukraine.
Actual consumer inflation in December 2024 exceeded the forecast of the National Bank of Ukraine (NBU), in the coming months prices will continue to rise.
This is stated in the NBU report on the level of inflation, which accelerated to 12% by the end of 2024.
“On the one hand, temporary factors, previously rapid rising food prices due to lower harvests. On the other hand, fundamental price pressure has also noticeably increased amid a further increase in business expenses on energy supply and wages,” the National Bank explained.
In addition, the effects of the weakening hryvnia exchange rate also had a certain impact on the acceleration of inflation.
“In the first months of 2025, inflation will likely continue to grow due to the further influence of both temporary factors, including the effects of lower harvests, and fundamental factors, in particular pressure from business expenses on energy supply and wages, as well as the effects of the weakening hryvnia exchange rate,” the department predicted.
At the same time, the NBU expects inflation to return to a steady decline trajectory in the second half of 2025.
Recall that according to the State Statistics Service, consumer inflation in Ukraine at the end of 2024 year grew by 12.0%, including inflation of 1.4% in December.
