In February 2025, Ukraine experienced a further acceleration of both overall and core inflation. According to estimates from the National Bank of Ukraine, inflation continued to rise in March. The main reasons for the increase in inflation in February to 13.4% year-on-year were the rising costs of both raw and processed food products, linked to poorer harvests from the previous year and high production costs.
This is reported by Business • Media
Business Costs and Consumer Demand
Core inflation also accelerated, reaching 12% year-on-year. This increase is attributed to rising business costs for wages and energy resources, as well as sustained consumer demand among the population.
Industrial Inflation and Its Consequences
Additionally, in February, industrial inflation also showed an increase. The rise in prices for industrial products by 37% year-on-year occurred due to significant price growth in the “supply of electricity, gas, steam” sector – 65.1% year-on-year. This could impact further increases in consumer prices due to secondary effects.