Ukraine had 0.8% inflation in Oct, annual figure fell to 5.3%

MOSCOW. Nov 9 (Interfax) - Consumer prices in Ukraine rose 0.8% in October after rising 0.5% in September but falling 1.4% in August and 0.6% in July, Ukrainian media reported, citing the State Statistics Service.

Annual inflation slowed to 5.3% in October from 7.1% in September, 8.6% in August and 11.3% in July.

Inflation was 3.8% for 10M 2023.

Food and non-alcoholic beverages rose 1% in price in October. Vegetables and eggs grew the most, by 14% and 10.1%, respectively. Prices for milk and dairy products, beef, butter, salo, soft drinks and bread increased by 0.6%-2.1% but prices for processed grain products, sunflower oil, fruits, sugar, rice, pork, poultry and pasta fell 0.1%-5.3%.

Prices for alcoholic beverages and tobacco products increased 0.4%, due to an increase in the price of tobacco products by 0.9%.

Healthcare services rose 0.4% in price.

Transport fares grew 1.5% due to a 3.5% rise in the cost of fuels and lubricants. Rail fares fell 5.7%.

The National Bank of Ukraine at the end of October again improved its inflation outlook for the year, from 10.6% to 5.8%, and but worsened that for 2024 from 8.5% to 9.5%.

The government at the beginning of November improved its inflation outlook for 2023 from 14.7% to 7.1% and that for 2024 from 10.8% to 9.7%.

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