Prices in Ukraine will rise: what awaits Ukrainians in the next three months
4 February 2025 14:51
Over the next three months, Ukraine will see a further increase in selling prices for industrial products, which will negatively affect the financial condition of citizens. This was announced by MP Nina Yuzhanina on her Telegram channel, citing data from the State Statistics Service of Ukraine, "Komersant Ukrainian" reports.
According to a survey conducted among 1128 industrial enterprises, 43% of respondents predict an increase in the cost of their products in the first quarter of 2025. Such a sharp rise in prices has been felt for the past six months.
These figures are in line with the industrial and consumer price indices calculated by the National Bank of Ukraine.
Nina Yuzhanina drew attention to the deterioration of the economic situation of Ukrainians, which leads to a decline in their living standards.
“Unfortunately, the increase in prices for food and other industrial goods is felt by all Ukrainian citizens, whose purchasing power is not improving,” she said.
According to her, government programs aimed at supporting the population do not bring real results and are ineffective. The plans announced by the current government, in her opinion, only emphasize the government’s inaction.
It should be noted that inflation in Ukraine in 2024, according to the State Statistics Service, amounted to 12%. This is a fairly high and negative indicator for the Ukrainian economy, and it is getting worse. In 2023, inflation was 5%. The National Bank of Ukraine is traditionally optimistic in its forecasts. According to the regulator, in 2025, inflation will decline to 6.9%, and in 2026 it will reach the NBU’s target level of 5%.
However, the NBU’s forecasts are not an indicator that should be trusted unconditionally. After all, back in November last year, when the final figure for the year could already be predicted much more accurately than, for example, at the end of 2023, the NBU issued a forecast of 9.7%. Thus, practice shows that inflation is usually higher than the NBU’s forecast expectations. That is, the 6.9% figure can be considered the lowest inflation rate for the current year.
For example, economist Andriy Novak says that this year’s inflation rate will be even higher than last year’s 12%.
