The annual inflation rate in Ukraine for 2024 reached 12%. Inflation in the consumer market in December compared to November was 1.4%.
According to the State Statistics Service, food products and non-alcoholic beverages increased in price by 14.1% over the year. The most significant price hikes in 2024 were seen in vegetables (48.3%), butter (33.9%), and sunflower oil (20.9%). There were also notable increases in the prices of milk (18.8%), bread (18.2%), fruits (16.4%), and cheese (16.2%).
The price of eggs, which concerned Ukrainians due to a rapid rise in recent months of 2024, increased by 13.1% over the year, although they decreased by 1.5% compared to November. Alcoholic beverages and tobacco products saw a price rise of 13.2%. Conversely, clothing and footwear prices fell by 4.3%.
Utility prices increased by 18.9% over the year, primarily due to a 63.6% rise in electricity costs. Management services for apartment buildings grew by 11.2%, garbage collection by 8.9%, and housing maintenance and repairs by 3.9%.
Healthcare prices rose by 13.2% over the year, while transportation costs increased by 7.1%. Educational services are now 12% more expensive, and restaurant and hotel services rose by 13.2%. Communication services went up by 9.1%.
Food Prices in Ukraine
It was previously reported that due to high demand in Ukraine, cucumber prices have risen. They are currently being sold for 100-140 UAH/kg, which is on average 20% higher than at the end of last week.
Additionally, there were reports of a decrease in procurement prices for raw milk. One of the reasons is the traditional drop in demand during the New Year holidays.