Economy

Inflation in Ukraine slows down to 0.9% in Feb 2018

The growth of consumer prices in Ukraine in February 2018 was 0.9% compared to 1.5% in January, the State Statistics Service of Ukraine has reported.

According to the agency, in annual terms (February 2018 to February 2017) the growth of consumer prices slowed down to 14% from 14.1% compared to January 2018 from January 2017.

Underlying inflation in February 2018 slowed to 0.6% from 0.7% in January, and in annual terms to 9.6% from 9.7%.

The service said since the beginning of the year consumer prices in Ukraine have increased by 2.4%, and underlying inflation stood at 1.3%.

Prices for food and non-alcoholic beverages in the consumer market in February rose by 1%. Prices for fruits rose most of all (by 6.8%). Prices for beef, fish, sour milk products, bread, vegetables, pasta, sour cream, cheese grew by 2.6-1%. At the same time, prices for buckwheat, poultry, eggs, pork, lard, and sugar fell by 3.2-0.7%.

The price of alcoholic drinks and tobacco products increased by 1.4%, in particular those for tobacco goods by 2.1%, alcoholic drinks by 0.7%.

The rise in tariffs for housing, water, electricity, gas and other fuels by 0.4% was mainly due to the increase in tariffs for the maintenance of houses and adjacent areas by 2.2%, water supply by 2.1%, sewerage by 1.7%, and housing rent rates by 0.8%.

The increase in prices for transport in general by 1.5% was mainly due to a 2.7% increase in road transport fares, and 2.2% for fuel and oils.

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