Economy

Inflation in Ukraine accelerates to 1.1% in March, but slows to 13.2% in annual terms

The growth of consumer prices in Ukraine in March 2018 was 1.1% compared to 0.9% in February and 1.5% in January, the State Statistics Service of Ukraine reported on Tuesday.

According to the agency, in annual terms (March 2018 to March 2017) the growth of consumer prices slowed down to 13.2% from 14% in February 2018 and 14.1% in January 2017.

Underlying inflation in March 2018 slowed to 1.4% from 0.6% in February and from 0.7% in January, and in annual terms it slowed down to 9.4% from 9.6% in February and from 9.7% in January.

The State Statistic Service said since the beginning of the year consumer prices in Ukraine have increased by 3.5%, and underlying inflation stood at 2.7%.

Prices for food and non-alcoholic beverages in the consumer market in March rose by 1.1%. Prices for fruits and vegetables saw the highest growth (by 5% and 3%, respectively). Prices for fish, fish products, butter, bread, pasta, cheese, rice, meat and meat products grew by 1.6%-0.8%. Meanwhile, prices for buckwheat, eggs, sugar, milk and lard fell by 3.6%-0.2%.

The price of alcoholic drinks and tobacco products increased by 1.3%, in particular those for tobacco goods by 1.7%, alcoholic drinks by 0.8%.

The rise in tariffs for housing, water, electricity, gas and other fuels by 0.3% was mainly due to the increase in tariffs for the maintenance of houses and adjacent areas by 1.6%, water supply by 0.7%, sewerage by 0.5%, and housing rent rates by 1.2%.

The decrease in prices for transport in general by 0.7% was mainly caused by cheapening of fuel and oils by 2.5%, cars by 1.9%. At the same time, rail and road transport fares increased by 3.3% and 1.4%, respectively.

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