Ukraine sees rise in industrial prices

Industrial producers in Ukraine raised prices by 14.5% in December 2020 year-over-year (y-o-y).

That is according to a statement by the State Statistics Service published on its website on January 11.

Read alsoUkraine's energy sector in 2020: Breakthrough in renewables and higher electricity billsIn particular, prices grew by 29.5% in mining sector, by 15.7% in processing industry, by 4.7% in textile industry, by 10.5% in the production of wood items, paper manufacturing, and printing, by 25.2% in metallurgical industry, by 20.9% in chemical production, by 10.4% in pharmaceutical production, and by 2.1% in engineering.

At the same time, production prices of goods of intermediate consumption increased by 21.9%, those of investment goods by 3.6%, consumer goods of short-term use by 18.7%, electricity by 7.6%, and consumer durables by 8.4%.

Background

• Ukraine saw a slowdown in its industrial production to 0.3% in November 2020 y-o-y without calendar adjustment, after a 5% decrease in October 2020 y-o-y.
• Slowdown in the country's industrial production in October 2020 accelerated to 5% y-o-y without calendar adjustment, after a 4.4% decline in September 2020 y-o-y.
• In 2019, prices set by industrial producer fell by 7.4%, whereas they increased by 14.2% in 2018, by 16.5% in 2017, by 35.7% in 2016, and by 25.4% in 2015.