Fuel prices in Ukraine have risen sharply by nearly 39% over the past year
In May, fuel price growth in Ukraine accelerated significantly—to nearly 39% year-over-year—which became one of the key factors driving inflation. At the same time, overall inflation slowed slightly, but prices continue to rise due to business costs for energy, logistics, and wages.
The National Bank explains: inflation in May formally slowed, but this is more of a seasonal effect than a real relief for consumers. Fundamental pressure on prices persists because businesses are spending more on electricity, logistics, and wages, and these costs are gradually being passed on to the prices of goods and services.
The NBU explicitly notes that actual inflation exceeded its previous forecasts. “Actual figures for headline and core inflation exceeded the National Bank’s forecast trajectory… The main reason for the deviation was the acceleration in price growth for goods and services amid rising business costs,” the regulator said in a statement.
Prices for raw food products rose more slowly—to 4.6% year-over-year. Some items became cheaper or saw their price growth nearly halt, particularly eggs and some vegetables, while apples even began to become cheaper due to increased sales of remaining harvest stock. At the same time, certain products continue to become more expensive. The most notable are buckwheat and millet, where limited supply and high processing costs are having an impact.
Processed food products have risen in price more rapidly—by over 10% year-over-year. Sunflower oil, bread, fish, and seafood are becoming more expensive due to higher fuel, logistics, and raw material costs.
Services are keeping pace—inflation in this sector has reached 13.6%. Transportation, auto services, driving lessons, and some household and entertainment services are becoming more expensive. At the same time, taxis and restaurants have temporarily halted price increases.
The most significant acceleration has been recorded in the fuel sector—nearly 39% annual growth. The NBU attributes this to a low base of comparison and general market fluctuations affecting the entire economic chain. Gasoline continues to get more expensive every month, while diesel and autogas have even gotten cheaper in some places, but the overall trend remains upward.
Rising fuel prices automatically lead to higher costs for logistics, goods, and services, which is why even local changes in the fuel market are quickly felt by consumers. Economists warn: as long as business costs remain high, inflationary pressure will not subside quickly. This was reported by the National Bank in a comment on the inflation rate in May 2026.
On June 10, the Verkhovna Rada approved a law on modernizing the pay scales for police officers and rank-and-file and senior personnel of the civil protection service.
