Dairy products have become the most expensive.
Production in the first month of the current year increased by 32.5% compared to the same period last year. Prices in Ukraine increased by 34.8%, outside the country – by 16.8%.
This is evidenced by data from the State Statistics Service.
What has increased in price the most?
- In the production of food, beverages and tobacco products, prices increased by 20.6%, including within Ukraine – by 17.5%, outside Ukraine – by 33.0%
- The production of dairy products increased in price the most – by 22.3%.
- Production of bread, bakery and flour products increased in price by 15.4%
- Meat production prices jumped by 12.0%
- Beverage production prices increased by 8.2%
- Sugar production prices fell by 0.3% over the year
According to NBU forecasts, inflation will not begin to decline before spring 2025. As the head of the National Bank Andriy Pyshny stated, price pressure will persist in the coming months due to high food prices. By the end of 2025, inflation will slow down to 6.9% and return to the target of 5% in 2026.
But in addition to food prices, the overall inflation rate will also be affected by large budget expenditures.
The NBU also cites the increase in energy deficit during the heating season as a separate factor influencing prices, when, for example, obtaining electricity from generators increases the cost of production.