Annual inflation in Ukraine slows to 21.3% in March, 24% in Q1

MOSCOW. April 10 (Interfax) - Inflation in Ukraine accelerated to 1.5% in March, from 0.7% in February and 0.8% in January, while the annual figure slowed to 21.3%, from 24.9% in February and 26% in January, Ukrainian media reported, citing the State Statistics Service.

Core inflation also rose to 1.5% in March, from 0.5% in February and 0.7% in January.

Consumer prices rose 24% in annual terms in Q1 2023, and 25.4% in January-February.

Food and non-alcoholic beverage rose 2.2% in price last month. Vegetables went up the most, by 17.3%. Prices for eggs, nonalcoholic beverages, meat and meat products, bread, pasta, milk and dairy products, butter, sugar, fruits, and fish increased by 0.4%-1.8%, but prices for rice, grain products, sunflower oil and salo fell by 2.3%-0.2%.

Clothing and footwear went up 12.5%.

An increase in prices in the healthcare sector by 0.6% was driven by higher cost of outpatient services by 0.8%. Transport fares fell 0.9% due to a 3% reduction in the cost of fuels and lubricants. Rail fares went up 5.3%.

Food prices rose 26.8% year-on-year in March and 30.4% in Q1, including eggs - 79.8% and 77.7%, fruits - 44.9% and 64.1%, vegetables - by 38.3% and 36.4% and fish - 37.2% and 42.1%.

The National Bank of Ukraine in January improved its inflation outlook for the year from 20.8% to 18.7%, expecting it to slow to 23.6% in Q1.