Inflation may exceed the National Bank's forecast in the coming months
Inflation in Ukraine may turn out to be higher than predicted in the National Bank of Ukraine’s previous forecast in the coming months. In August 2026, consumer inflation accelerated to 8.1% year-over-year, slightly exceeding the regulator’s July estimates.
The main factors behind these price dynamics were a significant rise in fuel prices amid the escalation of the war in the Middle East, increases in certain administrative tariffs, and the consequences of Russia’s attacks on logistics, manufacturing, and energy infrastructure facilities.
NBU Governor Andriy Pyshnyy noted: “Core inflation has remained at a high level in recent months. Fundamental price pressures are fueling further growth in businesses’ production costs, particularly for electricity, logistics, and labor.” Despite the risks posed by the war, the labor market and consumer demand remain resilient, and the high growth rate of average wages is further fueling price pressures.
The head of the regulator made this statement during a briefing, according to “Ukrinform.”
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