Ukraine Inflation Rises to Near 2-Year High

The annual inflation rate in Ukraine rose to 8.6% in April of 2026 from 7.9% in the previous month, the highest in five months. Food inflation jumped to 9.7%, picking up from the 9.5% in the previous month to mark the first increase in inflation in ten months. Meanwhile, transportation inflation was at 11.3% due to a 4.7% surge from the previous month, outlining the initial impact of the war in the Middle East on fuel prices. Inflation was also elevated for restaurants and hotels at 13.2%. From the previous month, the Ukrainian CPI rose by 1.7%.

The inflation rate in Ukraine eased to 7.4% in January of 2026 from 8% in the previous month, reflecting the softest pace of price growth since July of 2024. Inflation slowed for housing and utilities (2.2% vs 8.9%), food and non-alcoholic beverages (9.7% vs 10.2% in December 2025), transportation (5.9% vs 7.2%), restaurants and hotels (13.1% vs 14.5%). From the previous month, consumer prices in Ukraine inched 0.2% higher, slowing sharply from the 07% increase in the final month of 2025.

Ukraine’s inflation rate eased for the sixth consecutive month, falling to 9.3% in November 2025, the lowest since September 2024 and returning to single digits for the first time since October 2024. Price growth slowed mainly in food & non-alcoholic beverages (12.1% vs 15.6% in October), with sharp declines in vegetables (-27.8%) and sugar (-7.5%) offsetting stronger increases in meat and meat products (+23.1%), sunflower oil (+21.9%) and fruit (+20.2%). At the same time, clothing & footwear prices continued to fall (-6.1% vs -6%). On the other hand, price-growth accelerated for transportation (5.9% vs 5.4%), of which fuel and lubricants (5.3%) and transport services (12.1%). On a monthly basis, consumer prices went up by 0.4%, following a 0.9% increase in the prior month.