Some food products such as eggs continue to surprise Ukrainians with their prices. How prices of other goods keep changing and what happens to inflation – I get it Focus.
Inflation in Ukraine continues to slow down. Thus, its level in May 2023 stood at 15.3% on an annual basis, which was 2.6 points lower than in April. However, during the year, food and beverage prices in Ukraine increased significantly by 20.1%. He became the record holder in price increases, according to the State Statistics Service eggs.
Which products have increased in price?
- egg – annual cost “increased” by 124.9%;
- vegetables — 28.1%;
- meat and meat products – 24.1%
- fish and fish products — 22.3%.
Interestingly, egg prices fell on a monthly basis. Thus, their values fell by 22.7% in May compared to April, but this was not enough to compensate for the record annual price increase.
The annual increase in the prices of other foodstuffs varies between 7.4% and 21%. The exception was sunflower oil, the price of which fell. at a rate of 0.5% per year.
Important
The cost of alcoholic beverages and tobacco products rose 1.2% in May. However, clothing and footwear prices fell 1.6%. For example, shoes – 1.9%, clothing – 1.4%.
What will be the prices in Ukraine by the end of the year?
Experts expect further slowdown in inflation in Ukraine in the coming months and are revising their forecasts for the better. In particular, the Central Bank raised its inflation forecast for 2023 from 18.7% to 14.8%.
“Generally, we agree with this reasoning because actual inflation decreased to 0.2% in April compared to March. Therefore, consumer prices in many categories may remain relatively stable until 2019 unless there is a sharp increase in energy prices in world markets. Focus in May 2023. “It’s the end of the year,” said Dmitry Churin, head of analytics at investment firm Eavex Capital.
Vitaliy Vavryshchuk, head of macroeconomic research at ICU Group, also shared the NBU’s optimism and predicted a significant slowdown in price growth this year. According to him, sharp and unexpected price increases for individual products, such as for buckwheat, chicken eggs and onions, are unlikely until the end of 2023.
Previously Focus He explained how much the cost of utilities in Ukraine has changed. According to data from the State Statistics Service, the joint price increased by a total of 4.3% during the year (September 2022 – September 2021).
Source: Focus
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