9 Jun 2023 18:30

Ukraine had 0.5% inflation in May, annual figure down to 15.3%

MOSCOW. June 9 (Interfax) - Inflation in Ukraine rose to 0.5% in May from 0.2% in April, Ukrainian media reported, citing the State Statistics Service.

Inflation was 1.5% in March, 0.7% in February and 0.8% in January.

Annual inflation slowed to 15.3% in May, from 17.9% in April, 21.3% in March, 24.9% in February and 26.6% in December.

Core inflation slowed to 0.3% in May from 0.5% in April and 1.5% in March. Annual core inflation fell to 15.9% in May from 17.2% in April, 20.1% in March and 22.7% in February.

Headline inflation was 3.8% and core inflation 3% in the year to date.

Food and non-alcoholic beverages rose 0.9% in price in May. Fruit and vegetables went up the most, by 78.7% and 5.6%. Prices for meat and meat products, non-alcoholic beverages, fish and fish products, cheeses, and butter increased by 0.2-1.7%. Prices for eggs fell by 22.7%, and cereal products, salo, rice, sunflower oil, sugar, pasta and milk fell 0.2-3.2%.

Alcoholic beverages and tobacco prices went up 1.2%. Clothing and footwear fell 1.6% in price.

An increase in prices in the healthcare sector by 0.8% was driven by higher cost of pharmaceutical products by 1%.

Transport fares fell 1.1% due to a 2.5% reduction in the cost of fuels and lubricants.

The National Bank of Ukraine in April improved its inflation outlook for the year from 18.7% to 14.8%, expecting it to slow to 14.5% in H1.