Inflation in August fell to 10% for the first time since June 2021.

According to the schedule published by the National Bank, inflation slowed to approximately 10% in August. The last time annual inflation in Ukraine was observed below 10% was in June 2021 (9.5%). In July, consumer inflation slowed to 11.3% thanks to the expansion of the supply of food products and improved expectations while maintaining exchange rate stability.

According to the NBU’s estimates, inflation also slowed in August, primarily due to increased supplies of newly harvested vegetables and fruits. The growth rate of food prices decreased due to the expansion of supply, easing cost pressure, and optimizing production and logistics chains. Fundamental inflationary pressure decreased in line with the NBU’s expectations.