Analysts comment on the price trends in the Ukrainian consumer market.

Prices for food products and non-alcoholic beverages in August 2023 decreased by 3.7% compared to July, the Center for Economic Strategy reported. Vegetables and fruits fell in price the most (by 4.2%), as well as clothes and shoes (by 2.3%). Prices for some categories of goods and services increased: transport by 3%, fuel and lubricants by 7.4%.

In August 2023, the growth rate of consumer prices slowed to 8.6% in annual terms and in monthly terms by 1.4%. In general, inflation is slowing faster than the National Bank predicted. At the same time, the risk of inflationary pressure remains high because of the war.

However, as Deputy Minister of Agricultural Policy Taras Vysotskyi noted, there will be no rapid increase in product prices as in 2022. Prices will not soar because products previously grown mainly in the Zaporizhzhia and Kherson regions are now grown on a large scale in other areas. However, seasonal fluctuations will be higher than the statistical average due to storage and logistics difficulties.