The NBU has identified the main reasons for the rise in prices

Prices in Ukraine continue to rise due to higher costs for electricity, fuel, and logistics, as well as wage increases, which businesses are forced to factor into the cost of goods and services. Despite this, overall consumer inflation in May slowed to 8.2% year-over-year, although this figure was slightly higher than the regulator’s expectations. 

The most noticeable price increases for consumers were in sunflower oil, bread, fish, seafood, as well as buckwheat and millet, due to limited supply and high processing costs. At the same time, thanks to increased supply, eggs became cheaper, while pork, chicken, and cucumbers rose in price more slowly, and apple prices fell. 

Price increases were also recorded for transportation services, car repair and maintenance, driving lessons, beauty and leisure services, and public transportation fares in a number of cities. In the fuel market, gasoline continued to rise in price, while diesel fuel and autogas became slightly cheaper. The National Bank concluded that fundamental price pressures persist due to the continued rise in business costs for labor, energy, and logistics.

Source: commentary by the National Bank of Ukraine. 

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