Ukraine's inflation slows to 2.3% in September, as food prices fall

Ukraine's inflation slows to 2.3% in September, as food prices fall
Ukraine's inflation rate has been falling steadily in the last few years from double digit levels to 2.3% in September
By bne IntelliNews October 13, 2020

Ukraine’s consumer inflation slowed to 2.3 % y/y in September from 2.5% y/y in the prior month, the State Statistics Service reported on October 9. Consumer prices grew 0.5% m/m in September compared to 0.2% m/m decline in August.

Food prices slid 0.6% m/m in September after declining 1.5% m/m in August. In particular, prices declined for vegetables (-7.0% m/m) and fruits (-8.9% m/m). At the same time, prices for eggs jumped 7.3% m/m, and for sugar inched up 1.6% m/m.

Prices for clothing and footwear jumped 7.9% m/m after falling 3.0% m/m in August. Prices for housing and utilities advanced 3.7% m/m compared to 15.7% m/m surge in August due to a leap in natural gas prices by 18.4% m/m. Prices for transportation climbed another 0.5% m/m, being driven by increasing prices for fuel. On top of that, prices for education surged 11.0% m/m.

“We expect consumer inflation will accelerate in the last quarter of the year amid renewed inflation for food prices. We expect consumer inflation to land at 4.8% YTD in 2020 compared to 4.1% YTD in 2019,” an analyst at the Kyiv-based Concorde Capital brokerage, said in a research note.

 

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