Ukraine is approaching the EU level: so far in food prices
1 August 12:43
The cost of food in Ukraine is rapidly approaching the level of prices in the European Union, and in some respects is already exceeding them. This is stated in the inflation report of the National Bank of Ukraine for July, "Komersant Ukrainian" reports.
According to the report, since 2016, food prices in Ukraine have risen by 79% in euro terms, which is significantly higher than the rate of price growth in the European Union, where this figure is 46%.
The situation with pricing for different categories of goods is not the same. Ukrainian consumers still pay less for bakery products, cereals, fresh fruits and vegetables, and freshwater fish compared to European prices. This is due to lower costs of raw materials, labor and transportation.
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Sunflower oil remains competitive – its price is 20-25% lower than its Polish counterparts due to strong domestic production.
However, butter is more expensive: 20-25% more than in Poland. Experts attribute this to high production costs and the lack of government subsidies, which are actively used by European farmers.
In the livestock sector, the picture is mixed. Pork and dairy products are higher than Polish prices due to industry problems, while chicken and eggs remain more affordable due to the efficiency of large enterprises.
The NBU warns that the rapid alignment of prices with European standards could lead to a reduction in consumer demand or force buyers to look for more affordable alternatives.
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