Ukraine sees cut in industrial prices by almost 5% in six months

Industrial producers in Ukraine cut prices by 4.9% in January-June 2020 year-over-year (y-o-y).

Producers in mining and quarrying sectors slashed prices the most, by 25.9%. In particular, prices decreased by 33.8% in coal mining; by 40.2% in crude oil and natural gas production; and by 15.9% in metal ore mining, according to the State Statistics Service of Ukraine.

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Processing industry producers also reduced prices, by 3.5%, the report said.

However, tariffs on the supply of electricity, natural gas, steam, and air conditioning rose by 1%.

Prices of industrial commodities in the second quarter of 2020 alone (April-June 2020) were 4.1% down y-o-y, it said.

As UNIAN reported earlier, Ukraine saw a decline in industrial production to 12.2% in May 2020 year-over-year without calendar adjustment, after a 16.2% fall in April 2020 y-o-y.

Consumer inflation in Ukraine in June 2020 vs. June 2019 accelerated to 2.4% from 1.7% in May 2020 vs May 2019. Consumer prices rose by 0.2% in June 2020 compared from May 2020 and by 2% in January-June 2020.