The growth of consumer prices in Ukraine in February 2024 slowed to 0.3% compared to 0.4% in January and 0.7% in December 2023. This is the lowest figure since August 2023. On an annual basis, compared to February 2023, inflation slowed to 4.3%, the State Statistics Service reports.
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Core inflation in February remained at the level of 0.4% on a monthly basis, since the beginning of the year it amounted to 0.8%.
According to State Statistics Service estimates, prices for food products and non-alcoholic drinks in February increased by 0.4%. Vegetables increased in price the most (by 4.4%). Prices for beef, butter, milk and dairy products, soft drinks, rice, bread, fish and fish products, and fruits increased by 2.9-0.4%. At the same time, prices for eggs, pork, sugar, poultry, sunflower oil, processed grain products, and lard decreased by 3.5-0.8%.
Prices for alcoholic beverages and tobacco products increased by 0.7%, which is associated with an increase in the price of tobacco products by 1.4%.
At the same time, clothing and footwear fell in price by 3.5%, in particular clothing – by 3.5%, shoes – by 3.4%.
Transport prices decreased by 0.2%, mainly due to a reduction in the cost of travel in railway passenger transport by 2.1% and fuel and lubricating oils by 0.5%.
We would like to remind you that at the end of 2023, inflation was 5.1%.
The National Bank predicts that inflation will accelerate in 2024 to 8.6%, but already next year it will enter target range, falling to 5.8%, and in 2026 to 5%.