In April 2025 in Ukraine inflation accelerated to 15.1% year-on-year. Compared to March of the same year, consumer prices increased by 0.7%. This was reported by the press service of the National Bank, reported Dengi.ua .
According to the State Statistics Service, at the same time, core inflation in annualized terms slowed to 12.1%.
It is noted that the acceleration of inflation in April was largely due to the residual effects of the worst harvests and further increases in prices for alcoholic beverages and tobacco products. Additional pressure was created by high labor costs for businesses due to staff shortages and active consumption.
"At the same time, the NBU's measures to maintain a stable situation in the foreign exchange market and interest in hryvnia savings limited price growth. An additional impact was made by the decline in global oil prices, as well as the weakening of price pressure in the domestic wholesale electricity market," the report said.
Crude prices rose by 22.2% year-on-year. This was caused not only by last year's crop problems, but also by April frosts. Flour, cereals, vegetables and fruits became especially expensive. The demand for eggs on the eve of Easter also increased. However, food imports and greenhouse vegetables somewhat mitigated the situation.
The growth rate of processed food prices remained at 17.3%. Bread, bakery products and meat products became more expensive due to rising prices for raw materials and increased labor costs of enterprises. Prices for vegetable oil grew slower due to stabilization in the external markets, and greater supply restrained the rise in prices of some dairy products.
Non-food products grew in price more slowly - by only 3.8% YoY.
In the services sector inflation remained high - 14.6% YoY. Prices for restaurant, hotel, transportation and financial services increased. And personal care and insurance services rose in price at a slower pace.
Administered and regulated prices rose by 19.5%, mainly due to tax changes for tobacco producers and the fight against the shadow market. The strengthening of the hryvnia somewhat reduced price pressure on medicines and medical products.
Fuel prices grew more slowly - 3.7% YoY - due to the depreciation of oil on global markets, although the gradual increase in demand and the strengthening of the euro put upward pressure on prices.
According to the NBU, the actual indicators of both general and core inflation in April were slightly lower than the regulator's forecast. Monthly inflation dynamics, seasonally adjusted, also indicated a weakening of price pressure.
"According to the NBU forecast, inflation should return to a downward trajectory in the summer and slow down to a single-digit level by the end of the year," the National Bank added.
