Ukraine econmin says food prices in April grow

15:12, 06 May 2008
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Rice grew 18.2 percent, beef 13.4 percent

Food prices in Ukraine, beset by soaring inflation, continued to grow in April, the economy ministry said on Tuesday ahead of the release of last month`s consumer price index data, according to Reuters.

Foodstuffs constitute about 50-60 percent of the CPI basket and in March that component grew 5.6 percent month-on-month, when CPI rose 3.8 percent, and 14.4 percent during the first quarter, when the index grew 9.7 percent.

The ministry said bread in April alone grew 1.2-2.9 percent, flower 3.6 percent, rice 18.2 percent, beef 13.4 percent, chicken meat 3.5 percent and sausages 7.2 percent.

Some prices fell however -- egg prices fell by 5.9 percent, sunflower oil by 4.1 percent, sugar by 2.3 percent, milk by 1.1 percent and cream by 1.2 percent.

Inflation began accelerating in the second half of last year after a poor harvest which led to higher food prices. In reached 16.6 percent in 2007.

The government is yet to revise its 2008 full-year target, which at 9.6 percent, has already been surpassed by accumulated price rises in the first three months of this year.

CPI data is due on Tuesday or Wednesday.

Reuters

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