Inflation in Ukraine falls to 7.1% in September
Ukraine's consumer price inflation fell to 7.1% year-on-year in September, down from 8.6% year-on-year in August, as inflation cools in the country.
Overall, consumer prices rose by 0.5% in September, after a decline of 1.4% in August and 0.6% in July, the State Statistics Service said on Oct. 9.
Food prices dropped by 0.6% compared to August. The biggest decrease was seen in vegetable prices, which fell by 9.7% thanks to a larger-than-expected harvest.
Fuel prices rose by 4.9% from August amid rising global oil prices. Transport services remained more stable, howver, only increasing by 1%. Education also increased by 9.9% in a month.
Compared to the start of the year, prices increased by 3%.
Inflation reached 26.6% last year and has declined faster than the National Bank of Ukraine (NBU) expected, leading the central bank last week to ditch the fixed exchange rate that had been in place since the start of the full-scale invasion.
While the NBU forecasts that inflation will continue to decrease, it also noted in an October report that inflation pressures are persistent.
Dominic Culverwell
