Inflation in annual terms in Ukraine drops to 14.1% after deflation of 0.2 % in July - State Statistics Service

MOSCOW. Aug 8 (Interfax) - The State Statistics Service of Ukraine recorded a decline in consumer prices in Ukraine by 0.2% in July 2025, the first deflation since July 2023 after the growth of prices by 0.8% in June and 1.3% in May, Ukrainian media outlets said, citing the service's website.

In July 2024, the growth of prices was zero, therefore, inflation in annual terms declined in July 2025 for the second month in a row, to 14.1% from 14.3% in June, 15.9% in May and 15.1% in April, the service said.

Core inflation in July 2025 remained at June's level, 0.3%, it said. Given that it was 0.4% in July 2024, core inflation in annual terms slowed down to 11.7 by the end of July compared to 12.1% in June and 12.3% in May.

As reported, in July, the National Bank of Ukraine downgraded its inflation forecast for the third time this year based on its results, this time from 8.7% to 9.7%. In addition, it downgraded it for the next year, from 5% to 6.7%.

Inflation in Ukraine slowed down to 5.1% in 2023 from a hike of 26.6% in 2022 and grew to 12% in 2024.