The year in Ukraine began with an inflation slowdown.

Consumer prices in Ukraine in January 2023 compared to January of last year increased by 26%, which is less than the annual inflation a month earlier (26.6%), according to the State Statistics Service. At the same time, monthly inflation accelerated to 0.8%. Food prices increased by 1.4% in January. The highest price increases was recorded in vegetables by 6.4%, fruits by 4.4%, eggs by 2%, and milk by 2%. Prices for alcohol and tobacco increased by 0.8%, and clothes and shoes decreased by 5.1%. Housing, water, electricity, gas, and other fuel types rose by 0.1%. Household items and household appliances rose by 0.7%, and health care by 1.2%. Transport became cheaper by 0.1%, prices for communication rose by 1%, education by 1.1%, and restaurants and hotels increased by 1.6%.