Core inflation continues to exceed expectations.
In February 2025, the inflation rate accelerated to 13.4% year-on-year, and prices rose by 0.8% month-on-month.
The NBU told Novosti.LIVE whether it will be possible to slow down inflation rates and what will happen to prices in 2025.
“The rise in price of processed food products in February accelerated to 16.7%. This dynamic is explained by the increase in enterprises' costs for electricity, wages and logistics. Bread, vegetable oil, meat and dairy products have risen in price at a high rate,” the NBU specified.
Ukrainians also have to pay more for mobile communications, transport, health care, recreation and culture. It is assumed that in the coming months the rate of inflation will not be curbed for objective reasons.
The rapid dynamics are explained by the impact of unfavorable harvests in 2024, an increase in production costs for energy supply and labor. But the regulator plans to take measures to strengthen monetary policy to limit fundamental price pressure.
According to NBU forecasts, inflation will not begin to decline before spring 2025. As the head of the National Bank Andriy Pyshnyi stated, price pressure will persist in the coming months due to high food prices. By the end of 2025, inflation will slow to 6.9% and return to the target of 5% in 2026.