Inflation in Ukraine reached 16%.
Annualized consumer inflation accelerated to 13.7% in March and, according to the NBU, to almost 16% y/y in April. business assets due to Russia's full-scale attack on Ukraine. This is stated in the Macroeconomic and Monetary Review of the NBU (April 2022).
In addition, the acceleration of inflation is explained by a significant increase in prices in the partially captured areas due to the Russian invaders blocking the supply of goods, the report says.
According to the NBU, processed foods, milk, certain vegetables and fruits rose in price faster. But due to the seasonal expansion of supply, reduced exports and weaker demand, eggs have fallen in price.
The rise in prices for non-food products was restrained due to the fixed hryvnia exchange rate and the reorientation of citizens' demand for priority goods. At the same time, the latter led to a rapid rise in the price of medicines and individual personal care products.
The reduction in taxes on fuel contributed to a slowdown in the growth of fuel prices, but was offset by an increase in the price of oil and logistics, the destruction of refineries and tank farms.
Inflation was also held back by maintaining unchanged tariffs for utilities, the abolition of import taxes and the unchanged hryvnia against the dollar, the NBU noted.
Inflation is a steady increase in the general price level of goods and services. At the same time, some goods may noticeably rise in price, others may become cheaper, and still others may not change in price at all. Basically, prices for goods and services depend on supply and demand in the market, and some prices are regulated by the state.
- NBU predicts when Ukrainian refugees will start returning from abroad
- The Ministry of Economy of Ukraine told what will happen to prices in 2024
- Ukraine issued a commemorative coin "Military Intelligence of Ukraine" (video, photo)
- NBU issues commemorative medal "Kyiv region. Cities of heroes: Bucha, Gostomel, Irpen"
- The Verkhovna Rada appointed a new head of the NBU — Andriy Pyshny
- NABU presented suspicion to the head of the NBU
Elena Rasenko writes about science, healthy living and psychology news, and shares her work-life balance tips and tricks.