18:02 09.11.2023

Inflation in Ukraine in annual terms down to 5.3% after inflation of 0.8% in Oct – statistics

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Inflation in Ukraine in annual terms down to 5.3% after inflation of 0.8% in Oct – statistics

Consumer prices in Ukraine in October 2023 accelerated growth to 0.8% from 0.5% in September after declining by 1.4% in August and 0.6% in July, the State Statistics Service reported.

At the same time, in October 2022 they grew by 2.5%, so in annual terms, based on the results of October 2023, inflation decreased again - to 5.3% from 7.1% in September, 8.6% in August and 11.3% in July.

In October, the State Statistics Service also recorded a decrease in underlying inflation to 0.4% from 0.9% in September after remaining at zero in July-August.

Taking into account the fact that in October 2022 underlying inflation was 1.9%, in annual terms at the end of October 2023 it also decreased to 6.8% from 8.4% at the end of September, 10% at the end of August and 12.3% in July.

Since the beginning of this year, inflation in the country has amounted to 3.8%, underlying - 4.6%, the service clarified.

As reported, at the end of October, the National Bank of Ukraine again improved the inflation forecast for this year from 10.6% to 5.8%, but worsened it for 2024 - from 8.5% to 9.5%.

In early November, the government improved the inflation forecast for this year from 14.7% to 7.1%, and for next year from 10.8% to 9.7%.

In 2022, inflation rose to 26.6% from 10% in 2021, underlying inflation to 22.6% from 7.9%.

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