This is reported by RBK-Ukraine referring to the State Statistics Service (Derzhstat). This information is also provided by Kontrakty.UA.
According to the statistical office, annual inflation has accelerated more than twice compared to 2023, when prices increased by 5.1%.
The price growth in 2024 was comparable to inflation rates from previous years.
However, the average annual inflation in 2024 was only 6.5%, which is half of that in 2023 (12.9%). This was influenced by the fact that at the beginning of the year, price increases were minimal, and inflation only accelerated during the summer.
Prices for Goods and Services
According to Derzhstat, food products and non-alcoholic beverages increased in price by 14.1% over the year. Vegetables saw the highest price increase at 48.3%, followed by butter at 33.9%.
Prices for alcoholic beverages and tobacco products rose by 13.2%, while clothing and footwear prices decreased by 4.3%.
Housing, water, electricity, gas, and other fuels increased by 18.9%.
Prices for household goods and appliances rose by 2.1%, healthcare costs increased by 13.2%, transportation prices grew by 7.1%, communication prices by 9.1%, leisure and culture by 1.0%, education by 12.0%, and restaurants and hotels by 13.2%. Other goods and services increased by 9.7%.
It is worth noting that, according to the NBU, the acceleration of inflation in the second half of 2024 is largely explained by unfavorable weather conditions. The NBU forecasts that price growth will slow down by mid-2025.