Inflation in Ukraine accelerated to 16.4% in April.
Thursday, May 12, 2022

Inflation in Ukraine accelerated to 16.4% in April.

In April 2022, annual consumer inflation accelerated to 16.4% from 13.7% in March due to the effects of the war, announced the National Bank reports. Monthly, prices have increased by 3.1%. The main factors accelerating inflation were disruption of supply chains, increased business costs, and physical destruction of enterprise assets due to the full-scale war declared by Russia. It is noted that the growth rate of prices for processed food products accelerated to 19.3% year on year (from 16.6% in March). The growth rate of prices for goods with a significant component of imports in the cost increased due to the narrowing of opportunities for their supply and the loss of stocks in warehouses. Non-food prices grew faster in April (by 6.6% year on year, while by 3.6%) in March.  The growth of the cost of services accelerated to 12.8% year on year (from 11.3% in March). The growth of raw food prices accelerated significantly to 25.6% year on year.

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