Consumer inflation in Ukraine exceeds 20% - central bank

The National Bank of Ukraine said this in its macroeconomic and monetary review for July, Ukrinform reports.

According to the report, major factors behind growing inflationary pressure are global trends, including high energy prices, and internal factors, primarily those related to the war. The issue concerns the disruption of production and logistics routes, the destruction of assets and infrastructure, limited stocks and import possibilities, occupation of territories, etc.

The faster growth of prices for raw products was primarily associated with the appearance of early vegetables, which are much more expensive this year due to the temporary occupation of the southern regions, as well as an increase in the costs of their production and supply.

Cereals, in particular buckwheat, also rose in price due to limited own stocks and import possibilities. Meat prices grew faster due to a reduction in supply from the eastern and central regions.

Rising business costs have led to higher prices for services and non-food goods. Fuel prices also stabilized at a high level.

Consumer inflation in May 2022 accelerated to 18% from 16.4% in April.