Price Increases Observed in Ukraine: New Data from the State Statistics Service

A new surge in prices for various goods and services has been recorded in Ukraine, particularly for food products, cigarettes, housing, communications, and education. According to data from the State Statistics Service, consumer prices rose by 1.5% in March 2025, while annual inflation reached 14.6%, a significant increase compared to 13.4% in February.

This is reported by AgroReview

This level of inflation is the highest since May 2023, when it was 15.3%.

Prices for Goods and Services

According to the State Statistics Service, over the year, food products and non-alcoholic beverages became 17.4% more expensive. The largest price increases were seen in eggs, which rose by 44.7%, followed by sunflower oil at 35.4%, vegetables at 32.3%, and butter at 32.2%.

Prices for alcoholic beverages and tobacco products increased by 16.6%, while clothing and footwear decreased by 3.6%. Housing, water, electricity, gas, and other types of fuel became 20.2% more expensive. Prices for household goods and appliances rose by 2.3%, healthcare costs increased by 15.0%, and transportation expenses rose by 9.5% (including a 9.9% increase in fuel prices). Communication costs increased by 18.9%, recreation and culture by 1.0%, education by 12.1%, and restaurants and hotels became 14.1% more expensive. Other goods and services increased by 11.1%.

Inflation Forecasts

It is worth noting that annual inflation in Ukraine was 12.0% in December 2024. In January, the National Bank of Ukraine lowered its forecast for consumer price growth in 2025 to 8.4%. This downgrade of 1.5 percentage points was a result of rising food prices due to unfavorable weather conditions and high production costs, particularly due to imbalances in the labor market.