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Prices will rise at current rates until the end of the year—Ministry of Economy

The Ministry of Economy predicts that the rate of the price rise for consumer goods will remain unchanged until the end of this year, and external factors will mainly impact this.

"Until the end of the year, the general trend in consumer price dynamics will remain unchanged and will be determined by the impact of external price factors and a gradual recovery of economic activity after a period of significant quarantine restrictions," Volodymyr Hryniuk, First Deputy Minister of Economy of Ukraine, commented on the price situation.

In July 2021, consumer inflation slowed to 0.1% per month, compared to 0.2% a month earlier. Vegetables (by 8.1%), clothing and footwear (by 5.2%) became cheaper the most. But on an annualized basis, prices rose by more than 10%.

In July 2021, among consumer goods and services, the prices for natural gas (by 164.5%), sugar (by 83.5%), and sunflower oil (by 79%) rose the most, compared to July 2020.

The rise in domestic prices is significantly impacted by the factor of external markets, and that most noticeably affects the price dynamics for fuels and lubricants (2.7% in July).

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