Inflation is accelerating in Ukraine, but the NBU predicts it will decrease next year.

In October 2024, consumer prices increased by 1.8% compared to September; annual inflation accelerated to 9.7% (8.6% in September), according to the Ukrainian State Statistics Service. Since the beginning of the year, consumer prices have increased by 8.4%. In October, food and non-alcoholic beverage prices increased by 3.2%. Vegetables and eggs rose in price the most, by 18.2% and 18.1% respectively.

Prices for alcohol and tobacco rose by 1.8%, with prices of tobacco products rising by 2.6%. A 1% increase in prices in the healthcare sector stemmed from a rise in prices for hospital services of 1.3% and 1.2% for outpatient services. Prices for transport increased by 0.5% due to higher prices for fuel and lubricants of 0.8% and travel by road passenger transport of 0.7%.

According to the National Bank’s forecast, at the beginning of 2025 inflation will temporarily cross the 10% mark, but by the end of the year, it will decrease to 6.9%.