Holidays are approaching: which foods will rise in price the most by New Year's

Winter is approaching, and Ukrainians are starting to think about what dishes will be on their festive tables for Christmas and New Year. At the same time, the question arises of how significantly their wallets will be lightened due to high prices. Will food products traditional for the holiday table become more expensive, and is there any way to save money? UNN investigated.

Rising food prices in Ukraine

Over the past six months, we have observed significant price fluctuations in the food market in Ukraine. Undoubtedly, this is partly explained by the annual seasonal factor, especially for fruits and vegetables. There was a very large difference in prices for this group of products literally from month to month, in the summer and autumn months. We also see a significant increase in prices for dairy products, meat, particularly chicken. Also for eggs, oil

Novak added that in some food groups, prices are rising due to seasonal factors, but there are also those that are becoming more expensive due to the war, particularly Russian shelling, which causes damage to production.

If for the fruit and vegetable group these changes mainly occur due to the seasonal factor, then other groups are becoming more expensive due to increased production costs, mainly due to the rising cost of such resources as gas, electricity, and fuel. Another factor that has been at play for several years is the economic losses directly from military actions. We see that Russia has again intensified its attacks on Ukrainian energy infrastructure. This disrupts both production and supply cycles, and violates logistics. Therefore, direct economic losses are inflicted on both producers and traders

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Rising food pricesThe economist emphasized that attacks on food warehouses cause particularly serious damage. Due to the damage inflicted, producers and traders have to raise product prices to avoid operating at a loss.

We also see targeted attacks on food warehouses. This also causes heavy economic losses to both producers and traders. And since everyone understands that neither traders nor producers can operate at a loss, and therefore… these direct increased costs are compensated by increasing the price of their products

Will the New Year’s table become more expensive?According to Novak, the closer Ukrainians get to the holidays (Christmas, New Year) – the demand for food products that are traditional for the Ukrainian festive table increases. This period lasts almost a month and a half, given Ukrainians’ love for celebrating.

On the eve of the New Year, the holiday factor will kick in. Ukrainians traditionally don’t mind celebrating all holidays. We once had two New Years, New and Old. Now there will be two Christmases. In fact, from the second half of December and almost until the end of January, we will have permanent holidays, we will move from one festive table to another, and this will definitely increase the demand for those products that are characteristic of Ukrainian festive tables – both Christmas and New Year, and other holidays that await us in the second half of December and, in fact, all of January. Therefore, we should expect price increases specifically for those products that make up the traditional festive tables of Ukrainians

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Novak also noted that during the holiday season, festive sets of sweets and treats, as well as other common holiday gifts, are popular. Their prices are also expected to rise.

Already now you can see such holiday sets online, for St. Nicholas Day, Christmas, and New Year. We understand that in Ukraine today, networks of shopping centers and supermarkets of various sizes and scales are highly developed. In addition, there are many chain food outlets. And this creates a situation where the food market in Ukraine is the most competitive

How much will food prices rise?Competition will not allow shopping centers and chain stores to raise prices too high, so there is no need to fear any exorbitant price increases.

This competition does not allow either producers or traders to excessively inflate prices. This mutual competition minimizes price increases. But of course, beyond the usual cost price, which neither producers nor traders can afford to go below. Therefore, I do not expect a surge in prices for gift holiday sets or goods, because the mutual competition of retail chains and non-chain retail outlets will not allow them to excessively profit during holiday periods

Finally, Andriy Novak reminded that Ukraine is gradually entering the tradition of civilized countries, where holiday discounts and promotions are practiced precisely for holidays.

For those with not very high incomes, I advise waiting for such promotional holiday offers

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