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In Ukraine, everything will go up in price—from utility bills to groceries. Former Minister of Finance predicts a new round of inflation

Upturn in inflation 2021: Tariff and food price increase forecast. Photo: UNIAN

Upturn in inflation 2021: Tariff and food price increase forecast. Photo: UNIAN

In the fall, Ukrainians will face a new wave of inflation that will lead to an increase in utility tariffs and food prices. The former Minister of Finance Ihor Umanskyi gave such a forecast in his telegram channel.

According to him, the rise in prices for heating will hit the pockets of residents of Ukrainian cities the most—by 40—70%. This is due to the rise in gas and coal prices. Electricity for business will also go up in price, and the latter, in turn, will shift the losses onto the population.

"Everything will go up in price again—from groceries to utility bills. Thus, subsequently the population will pay for everything," Umanskyi wrote.

According to the former Minister's calculations, Ukrainians will lose 20-30% of their solvency. Millions of pensioners will have the hardest time.

Context. During the year, utility tariffs for Ukrainians have gone up in price by more than 56%.

The World Food Price Index compiled by the United Nations (UN) is showing a record increase in the value of groceries in the world. During the year, prices increased by 40%, most of all—in April 2021.

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