Inflation in Ukraine reaches 1.3% in May 2025, with annual rate up to 15.9% - State Statistics Service

MOSCOW. June 10 (Interfax) - The growth of consumer prices in Ukraine accelerated to 1.3% in May from 0.7% in April and 1.5% in March, Ukrainian media quoted the Ukrainian State Statistics Service as saying on its website.

The statistics service said that prices went up 0.6% in May 2024, so the annual inflation rate for May this year climbed to 15.9% from 15.1% in April and 14.6% in March.

Core inflation did not increase so significantly in May 2025, rising to 0.5% from 0.4% in April and 1.4% in March, it said. However, given that it stood at 0.3% in May 2024, core inflation grew to 12.3% in annual terms at the end of last month, compared to 12.1% at the end of April and 12.4% at the end of March.

As reported, inflation in Ukraine, which fell to 5.1% in 2023 after surging to 26.6% a year earlier, rose to 12% at the end of 2024.

In April, the National Bank of Ukraine (NBU) lowered its inflation forecast for 2025 for the second time this year, from 8.4% to 8.7%, and maintained its expectations that it would return to the 5% target level in 2026. The regulator expected the inflation rate to fall to 13.7% in Q2 and 12.3% in Q3, while core inflation would be 12.7% and 11.4%, respectively.

Last week, the National Bank said that inflation in Ukraine in May 2025 had probably reached a local high and slightly exceeded the regulator's forecast trajectory, in particular, due to seasonal factors and rising business production costs.

The National Bank explained the increase in core inflation in May, following a slowdown in April, by sustained demand and rising business costs, in particular, for wages.

"This summer, the inflation rate will start to decline across a wide range of goods and services and will gradually move towards the 5% target," the National Bank said.