Ukraine had 0.6% deflation in July, 4% inflation in 7M - State Statistics Service

MOSCOW. Aug 9 (Interfax) - Consumer prices in Ukraine fell 0.6% in July after rising 0.8% in June and 0.5% in May, Ukrainian media reported, citing the State Statistics Service.

There was 0.7% inflation in July 2022, so annual inflation slowed to 11.3% in July 2023 from 12.8% in June and 15.3% in May.

Ukraine had zero core inflation in July 2023 compared with deflation of 0.1% in June and inflation of 0.3% in May.

Core inflation was 1.2% in July 2022, and slowed to 12.3% in annual terms in July 2023, from 13.7% in June and 15.6% in May.

Headline inflation was 4.0% and core inflation 3.2% in the year to date.

Food and non-alcoholic beverages fell 1.9% in price in July but rose 4.6% in 7M. Vegetables fell the most, by 18.2%, followed by eggs, by 7.6%. There were price t rises for meat and meat products, sugar and fish and fish products. Alcoholic beverages and tobacco went up 1%.

Clothing and footwear were up 4.8% in July and 5.7% in 7M. Transport fares grew 2.7% in July due to 7.3% growth in the cost of fuels and lubricants. Communications charges went up 0.3% as postal services went up 5.8% in price.

The National Bank of Ukraine at the end of July again improved its inflation outlook for the year, from 14.8% to 10.6%.

Ukraine had headline inflation of 26.6% in 2022 and 10% in 2021.