“The Ministry of Economy reported that the main reason for accelerating prices in Ukraine was the increase in electricity tariffs after Russian attacks. A poor harvest in 2024 was an additional factor. This is evidenced by the monitoring of the main events in the economy of Ukraine (December 2024) of the Ministry of Economy. In total, during 2024 the price dynamics were acceptable and “the acceleration of inflation up to 12% per annum at the end of the year”, – Write On: ua.news
The Ministry of Economy reported that the main reason for accelerating prices in Ukraine was the increase in electricity tariffs after Russian attacks. A poor harvest in 2024 was an additional factor.
This is evidenced by the monitoring of the main events in the economy of Ukraine (December 2024) of the Ministry of Economy.
In general, during 2024 the price dynamics were acceptable, and “the acceleration of inflation to 12% per annum at the end of the year was only a matter of time because the war continues and causes tremendous losses to the economy.”
“Therefore, after another attack and destruction of domestic energy, the military nature of inflation began not only to dominate the market, but also to stimulate price growth. As a result, the inflationary dynamics went beyond the target of the National Bank (5%), it was because of the previous rise in price of electricity (rising costs), ”the Ministry of Economy explained.
The supply of some products was an additional factor for the rise due to the influence of adverse weather conditions on agricultural yields, monitoring is evidenced.
The department also noted that according to preliminary estimates of the Ministry of Economy, in 2024 the GDP of Ukraine increased by 3.6% [±0,5%] (compared to an increase of 5.5% in 2023).
Earlier in Ukraine, the prices for most borsch vegetables have decreased in the markets and stores during the week. The reason for the decrease in cost was the deterioration of root quality due to long -term storage.
Product prices are steadily increasing. For several months in a row, Ukrainians have been witnessing the relentless rise in price of most foods and food products on the shelves of stores.
Product prices in Ukraine increased by an average of 14.1%for 2024. Vegetables, dairy products and sunflower oil have risen the most.
Recall that in November 2024 consumer prices in Ukraine increased by 11.2%. Product inflation accelerated up to 14.3%.
In October 2024, egg prices were jumped by 60%. Manufacturers argue this increase in feed prices, energy and more.
