“It is noted that the price of both food and non-food products has increased.”, — write: www.unian.ua
It is noted that the price of both food and non-food products has increased.
Prices for non-food products accelerated growth under the influence of the exchange rate / photo ua.depositphotos.comPrices for goods and services continue to rise in Ukraine. Food inflation remained the main factor of price increase.The Macroeconomic and Monetary Review of the NBU for January 2025 stated that consumer inflation accelerated to 11.2% y/y in November 2024, and growth continued in December.
It is noted that in November, food inflation accelerated due to a lower supply of certain agricultural crops, as well as livestock products, which led to an increase in prices for both raw and processed food products.
The prices of non-food goods accelerated their growth under the influence of the exchange rate, which had the effect of slowing down the decline in the prices of clothing and footwear.
The growth of fuel prices in annual terms slowed down in November due to the downward dynamics of global oil prices and restrained demand.
Alcoholic and tobacco products became more expensive, in particular under the influence of the exchange rate, the fight against shady products and the increase in excise taxes.
In addition, the growth of prices for pharmaceutical products, medical goods and equipment accelerated. At the same time, administrative inflation was restrained by a moratorium on raising tariffs for housing and communal services for the population.
What will happen to product prices in Ukraine in 2025 – an expert’s forecastEconomist Oleg Pendzyn, a member of the Economic Discussion Club, noted that product prices in Ukraine in 2025 will depend on a number of factors. According to him, the inflation rate is expected at the level of 9.5%.
He pointed out that vegetables are most sensitive to the weather, which directly affects yield, so prices can jump up to 30-50%. At the same time, eggs will continue to become more expensive due to the high cost of feed. As for meat, the increase in prices will be limited due to a decrease in demand for expensive products. Thus, the price increase will be up to 2-5%, and bread and dairy products may add 10-15% depending on the cost of raw materials.
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