State Statistics Service: inflation in Ukraine accelerated to 12% in 2024
10 January 17:49
Despite the acceleration of inflation in recent months and its return to double digits, the situation remains under control for the third year of the war. This conclusion was shared in a telegram by Danylo Hetmantsev, Chairman of the Verkhovna Rada Committee on Finance, Taxation and Customs Policy, Komersant ukrainskyi reports.
He also cited data from the State Statistics Service for December.
For example, consumer prices in December increased by 1.4% compared to November. This is less than in the previous months (1.5% in September, 1.8% in October, 1.9% in November).
At the same time, annual inflation continued to accelerate in December. At the end of 2024, consumer inflation amounted to 12% – this is up to December 2023, while the average for the year was 6.5%.
What about the annual dynamics of food prices?
According to the State Statistics Service’s estimates cited by Business Censor, prices for food and soft drinks increased by 14.1% over the year. The most expensive products were:
vegetables – by 48.3%;
butter – by 33.9%;
sunflower oil – by 20.9%;
milk – by 18.8%;
bread – by 18.2%;
fruits – by 16.4%;
cheese – by 16.2%.
Alcoholic beverages and tobacco products went up by 13.2% over the year. At the same time, according to the State Statistics Service, clothing and footwear fell by 4.3%.
Housing, water and electricity costs increased by 18.9% over the year, primarily due to a 63.6% rise in electricity prices.
Healthcare services went up by 13.2% over the year, and education by 12%.
As reported, in April last year, the National Bank predicted inflation in 2024 at 8.2%. However, in July, the NBU downgraded its forecast to 8.5%, and in October – to 9.7%.
It is also worth recalling that in 2023, inflation in Ukraine was 5.1%.
