Economic Indicators

Ukraine’s annual consumer inflation slows to 11.3% in July

2023.08.09 11:37


© Reuters. FILE PHOTO: People are seen outside of the Piana Vyshnia (Drunken Cherry) chain’s bar in downtown, amid Russia’s attack on Ukraine, in Kyiv, Ukraine May 15, 2023. REUTERS/Valentyn Ogirenko/File Photo

KYIV (Reuters) – Ukraine’s annual consumer inflation slowed to 11.3% in July compared with the same month a year ago, the statistics service said on Wednesday.

It said in a statement that consumer prices fell by 0.6% in July compared with June mainly thanks to a seasonal drop in vegetable prices. It said vegetable prices fell by 18.2% in July.

Inflation has been slowing faster than expected so far in 2023. Inflation peaked last year when consumer prices in Ukraine shot up due to disrupted logistics and broken supply chains after Moscow launched its full-scale invasion in February 2022.

The government and the central bank had implemented tight monetary policy measures to tame inflation. Also, domestic consumer demand has shrunk as millions fled the war and stayed abroad until the end of hostilities.

The central bank expects inflation to continue to slow down later this year but at a more moderate pace. The government has reinstated fuel excise duties which were scrapped last year and also raised prices for electricity for household consumers.

The statistics committee said that fuel prices rose by 7.3% in July.

The central bank expects inflation at 10.6% this year.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 66,853.91 0.85%
ethereum
Ethereum (ETH) $ 3,455.98 2.15%
tether
Tether (USDT) $ 1.00 0.04%
bnb
BNB (BNB) $ 592.78 0.80%
solana
Solana (SOL) $ 174.62 0.46%
usd-coin
USDC (USDC) $ 1.00 0.23%
staked-ether
Lido Staked Ether (STETH) $ 3,459.33 2.02%
xrp
XRP (XRP) $ 0.584519 1.13%
dogecoin
Dogecoin (DOGE) $ 0.128377 4.25%
the-open-network
Toncoin (TON) $ 7.08 3.29%
cardano
Cardano (ADA) $ 0.42452 2.73%
avalanche-2
Avalanche (AVAX) $ 30.61 6.40%
tron
TRON (TRX) $ 0.134217 0.14%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 3.57%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 66,702.87 1.00%
chainlink
Chainlink (LINK) $ 14.27 0.55%
polkadot
Polkadot (DOT) $ 6.20 2.53%
bitcoin-cash
Bitcoin Cash (BCH) $ 387.48 2.28%
near
NEAR Protocol (NEAR) $ 6.06 3.87%
uniswap
Uniswap (UNI) $ 7.84 1.86%
dai
Dai (DAI) $ 1.00 0.06%
litecoin
Litecoin (LTC) $ 72.26 1.72%
leo-token
LEO Token (LEO) $ 5.72 0.43%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,600.82 2.05%
pepe
Pepe (PEPE) $ 0.000012 3.50%
matic-network
Polygon (MATIC) $ 0.531117 1.75%
internet-computer
Internet Computer (ICP) $ 10.19 0.46%
kaspa
Kaspa (KAS) $ 0.177891 2.34%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.40 4.28%
ethereum-classic
Ethereum Classic (ETC) $ 23.37 3.03%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.18%
aptos
Aptos (APT) $ 7.24 2.18%
stellar
Stellar (XLM) $ 0.103325 1.93%
monero
Monero (XMR) $ 162.77 0.94%
mantle
Mantle (MNT) $ 0.866405 3.73%
blockstack
Stacks (STX) $ 1.91 0.68%
render-token
Render (RNDR) $ 6.89 0.34%
filecoin
Filecoin (FIL) $ 4.59 3.14%
injective-protocol
Injective (INJ) $ 27.01 0.82%
maker
Maker (MKR) $ 2,775.21 1.61%
arbitrum
Arbitrum (ARB) $ 0.771127 1.51%
hedera-hashgraph
Hedera (HBAR) $ 0.07192 3.72%
okb
OKB (OKB) $ 42.03 2.31%
crypto-com-chain
Cronos (CRO) $ 0.093828 1.04%
dogwifcoin
dogwifhat (WIF) $ 2.51 5.29%
cosmos
Cosmos Hub (ATOM) $ 6.34 3.06%
immutable-x
Immutable (IMX) $ 1.61 2.02%
vechain
VeChain (VET) $ 0.029786 4.28%
bittensor
Bittensor (TAO) $ 337.39 1.56%
arweave
Arweave (AR) $ 32.96 2.82%