Business

Inflation in Ukraine falls to 7.1% in September

1 min read
Inflation in Ukraine falls to 7.1% in September
A seller arranges tomatoes on the stall at the Pryvoz Market in Odesa. (Photo by NurPhoto/ Getty Images)

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.

Positive trends reported in Ukraine’s key economic sectors
Ukraine’s key sectors grew between January and September this year, Economy Minister Yulia Svyrydenko said on Oct. 9, citing the Ministry’s preliminary estimates.
Article image
Subscribe to the Newsletter
Ukraine Business Roundup
Avatar
Dominic Culverwell

Reporter

Dominic is the business reporter for the Kyiv Independent. He has written for a number of publications including the Financial Times, bne IntelliNews, Radio Free Europe/Liberty, Euronews and New Eastern Europe. Previously, Dominic worked with StopFake as a disinformation expert, debunking Russian fake news in Europe.

Read more
News Feed

"It is legitimate and lawful for China to conduct normal economic, trade and energy cooperation with all countries around the world, including Russia," China's Foreign Ministry said in response to question about Russian oil purchases posed by Bloomberg. "We will continue to adopt reasonable energy security measures in accordance with our national interests."

"The highly anticipated meeting between myself, as President of the United States of America, and President Vladimir Putin, of Russia, will take place next Friday, August 15, 2025, in the Great State of Alaska," Trump wrote on Truth Social, adding that "further details will follow."

Video

At the start of Russia’s full-scale invasion, foreigners flocked to Ukraine to join its defense against Russian forces. More than three years later, the foreign fighters who remain are a different breed — driven by a deep commitment to Ukraine.

Show More