Ukraine producer prices rise 3% in July as annual inflation hits 42.5%

Ukraine's producer prices increased by 3% in July 2026 compared to June, according to the State Statistics Service. The primary factor behind this rise was a 6.4% increase in electricity, gas, steam, and air-conditioning supply prices. Annual industrial inflation reached 42.5% in July, marking the second-highest level since the beginning of the year, with May being the only previous month with a higher rate at 45.2%.

Unlike consumer inflation, which tracks what consumers spend on goods and services, industrial inflation gauges price changes at the producer level. This metric is calculated using the producer price index. In contrast to Ukraine's inflation trends in other years, it dropped to 5.1% in 2023 after peaking at 26.6% the previous year, then increased to 12% in 2024.

June 2026 saw a slowdown in consumer price growth to 0.8% from 1.3% in the previous month. The National Bank of Ukraine's July 2025 inflation report suggested that food inflation in Ukraine was nearing a local peak and would soon decline as the new harvest entered the market, causing prices for some food items to drop and imports to rise.

In August 2025, consumer prices in Ukraine dropped by 0.2% for the second consecutive month, following a 0.8% increase in June and a 1.3% rise in May. The National Bank of Ukraine adjusted its 2025 inflation forecast to 9.2% from 9.7% in its July macroeconomic prediction and maintained its 2026 inflation projection at 6.6%. In December 2025, consumer price growth slowed to 0.2% from 0.4% in November and 0.9% in October.

Consumer prices in Ukraine rose by 0.3% in July 2026 after falling 0.1% in June and increasing by 0.9% in May and 1.4% in April.