Ukraine July inflation ticks up to 0.3%, annual rate hits 7.7% – statistics
Consumer prices in Ukraine increased by 0.3% in July 2026, following a 0.1% decline in June and increases of 0.9% in May and 1.4% in April, the State Statistics Service said Monday.
In July 2026, consumer prices in Ukraine rose by 0.3%, according to the State Statistics Service, after a slight decrease in June and increases in April and May. Year-over-year inflation reached 7.7%, up from 7.2% in June, but still under the 8.2% level observed at the end of May. Core inflation softened to 0.3% in July 2026 from 0.5% in June and 0.7% in May, remaining consistent with July 2025.
Despite this, the annual rate stayed at 8.1%. Since Russia's full-scale invasion in 2022, Ukraine's inflation surged to 26.6% in 2022, slipped to 5.1% in 2023, increased to 12% in 2024, and fell to 8% in 2025, partly due to the National Bank's tight monetary policy. The National Bank revised its inflation forecasts for Ukraine in 2026 and 2027 downwards, predicting 10.0% and 6.9% respectively, down from 9.4% and 6.5% previously.
The rise in inflation is attributed to increasing business costs, especially in logistics, labor, and energy. Although inflation expectations stayed high, they were relatively stable. The National Bank adjusted its expected inflation trajectory, increasing the forecast for the first quarter of 2027 to 9.1% from 8.2% and for the second quarter to 8.2% from 7.5%. Core inflation forecasts also saw a significant upward revision to 9.2% for 2026 and 5.1% for 2027.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
