Inflation slows to 1.8% in October, but accelerates to 11.0% y/y - State Statistics Service
Consumer price growth in Ukraine slowed to 1.8% in October 2026 after accelerating to 2.1% in September from 0.1% in August and 0.3% in July, the State Statistics Service said on Tuesday.
In October 2026, inflation in Ukraine slowed to 1.8% on a month-over-month basis, according to the State Statistics Service. However, on a year-over-year basis, inflation surged to 11.0%, up from 10.0% in September 2026 and 8.1% in August 2026. The core inflation rate also decelerated to 1.4% from 2.0% in September 2026, but on a year-over-year basis, it increased to 9.7% from 8.8% in September 2026.
The National Bank of Ukraine (NBU) had raised its inflation forecast for the current year from 10.0% to 12.5% and for the following year from 6.9% to 7.3% in late October 2026. The bank estimated that the direct impact of shelling alone would add approximately 0.7 percentage points to the annual inflation rate.
Various factors are expected to influence price dynamics in Ukraine. These include the effects of increased fuel prices and the implementation of expanded budget stimulus measures. Throughout the ongoing conflict, inflation in Ukraine has fluctuated significantly. It jumped to 26.6% in the first year of Russia's full-scale aggression before falling to 5.1% in 2023. In 2024, inflation rose again to 12%, but efforts to curb it through a relatively tight monetary policy had brought it down to 8% by the end of 2025.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
