Inflation has slowed, but prices will rise again in the near future
In June 2026, annual inflation in Ukraine slowed to 7.2%, and on a monthly basis, prices even fell slightly. At the same time, the National Bank warns that inflationary pressure will intensify in the coming months, and certain goods and services may become more expensive again.
According to the NBU, in June 2026, inflation in Ukraine slowed to 7.2% on an annual basis, while on a monthly basis, prices fell by 0.1%. The overall inflation figures are in line with the NBU’s April forecast, but core inflation accelerated to 8.1% due to rising business costs for wages, electricity, and fuel.
What has changed:
- Fresh foods: Prices fell by 0.2% (year-over-year). Pork, chicken, eggs, vegetables from summer greenhouses, and fruits became cheaper.
- Services: Transportation services, car maintenance, driving lessons, and beauty services became more expensive—service inflation accelerated to 13.7%.
- Processed foods: The growth rate remained at 10.4%. Sunflower oil and frozen prepared foods saw the largest price increases.
- Administratively Set Prices: Inflation accelerated to 10.7% due to higher water rates in some cities and rising prices for alcohol and tobacco.
- Fuel: Inflation slowed to 33.4% thanks to lower prices for diesel and autogas in June.
What’s next:
The National Bank warns that price pressures will increase in the coming months. The main drivers will be labor costs, as well as adjustments to water rates and public transportation fares.
The NBU will release its updated macroeconomic forecast on July 30, and a detailed Inflation Report will be published on August 6, 2026.
Source: NBU
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