Inflation in Ukraine accelerates to 2.4% in June

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, Ukraine's State Statistics Service said on its website.

In particular, prices of food and non-alcoholic beverages increased by 0.4% in June 2020 compared to May 2020. Prices of fruit grew most – by 8.4%, while prices for poultry meat, creamery butter, bread, sunflower oil, beef, and sour cream rose by 0.4-2.3%.

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However, prices of vegetables fell by 4.7%, those of milk, sugar, rice, lard and pork slid by 0.9-1.3%. Prices of alcohol and tobacco rose by 0.5%.

When compared to June 2019, prices of fruit also grew most – by 23.8%, while alcoholic beverages and tobacco went up in price by 11.8%, bread and bakery products by 9%, milk by 6.5%.

The steepest decline in June 2020 compared to June 2019 was recorded in prices of natural gas (40.4%), water supply (23%), fuel and lubricants (15.7%), vegetables (15.9%), and eggs (10.4%).

The State Statistics Service says the report does not include data from Russia-occupied parts of Ukraine, namely Crimea with Sevastopol, and certain districts in Donetsk and Luhansk regions.

As UNIAN reported earlier, the National Bank of Ukraine revised upwards its inflation forecast for 2020 to 6% from the 4.8% projected earlier. Yet, it remained within the target range of 5% +/-1 pp.

In 2019, inflation in Ukraine slowed to 4.1% and became minimal in the past six years.