Latest reading: Inflation fell to 19.8% in May from April’s 22.2%, marking a near two-year low. Resumed Central Bank intervention...
Inflation in Ukraine
In the year 2024, the inflation in Ukraine was 6.49%, compared to 12.14% in 2014 and 13.39% in 2023. It averaged 14.63% over the last decade. For more inflation information, visit our dedicated page.
Ukraine Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Ukraine from 2014 to 2024.
Source: Macrobond.
Ukraine Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 7.9 | 2.7 | 9.3 | 20.1 | 13.4 |
| Inflation (CPI, ann. var. %, eop) | 4.1 | 5.0 | 10.0 | 26.6 | 5.1 |
| Inflation (PPI, ann. var. %, eop) | 4.1 | -1.6 | 40.8 | 47.3 | 24.2 |
Inflation hits over two-year high in May
Latest reading: Inflation came in at 15.9% in May, which was up from April’s 15.1% and was the highest one since April 2023. Food price pressures rose at the sharpest pace in over two years and continued to fuel overall inflation due to last year’s drought, a decline in agricultural supply and rising energy spending amid Russian attacks on critical infrastructure. Annual average inflation rose to 10.9% in May (April: 9.9%). Meanwhile, core inflation ticked up to 12.3% in May from April’s 12.1%. Finally, consumer prices increased 1.30% in May over the previous month, accelerating from April's 0.70% rise.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Ukrainian inflation projections for the next ten years from a panel of 30 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Ukrainian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Ukrainian inflation projections.
Want to get access to the full dataset of Ukrainian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Angola: Inflation nears two-year low but remains among fastest in the region in May -
Argentina: Inflation falls to lowest level since March 2021 in May Latest reading: Inflation dropped to 43.5% in May, below April’s 47.3%. May’s result marked the lowest inflation rate since March... -
United States: Inflation rises in May but undershoots expectations Latest reading: Inflation ticked up to 2.4% in May from April’s 2.3%. The reading was slightly above the Fed’s 2.0%... -
Russia: Inflation cools for second straight month but remains above target in May Latest reading: Inflation fell for the second consecutive month in May, coming in at 9.9% (April: 10.2%) and marking the... -
Taiwan: Inflation declines to lowest level since March 2021 in May Latest reading: Inflation eased to 1.5% in May, below April’s 2.0%. May’s figure marked the weakest inflation rate since March... -
Thailand: Consumer prices drop further in May Latest reading: Consumer prices decreased 0.6% year on year in May, following April’s 0.2% fall. May’s reading represented the largest... -
Dominican Republic: Inflation increases to over one-year high in May Latest reading: Inflation rose to 3.8% in May from April’s 3.7%. May’s figure represented the highest inflation rate since November...