Ukraine Inflation Climbs to 11-Month High

Ukraine’s annual inflation rate rose to 10% in September 2026, the highest level since October 2025, up from 8.1% in the previous month. Transport inflation accelerated to 26.9% from 23.8% in August, while inflation also accelerated sharply for housing and utilities to 6.3% from 5.6%, and for food to 8.9% from 6%. Price growth also picked up for furnishings (7.3% vs. 5.7%). Meanwhile, inflation in restaurants and hotels eased to 13.2% from 13.7%, while deflation in clothing and footwear moderated slightly to 4.7% from 4.9%. On a monthly basis, consumer prices surged 2.1%, the largest increase since June 2024, following a 0.1% rise in August.

The annual inflation rate in Ukraine rose to 8.1% in August 2026 from 7.7% in the previous month, marking the highest reading in three months. Transport inflation jumped to 23.8% from 18.6% in July, while housing, water, electricity, gas and other fuels rose to 5.6% from 4.5%. Inflation also increased for furnishings and household equipment (5.7% vs 5.0%), clothing and footwear (5.1% vs 4.4%), and restaurant and hotel inflation (13.7% vs 13.2%). In contrast, price growth eased for food and non-alcoholic beverage inflation (6.0% vs 6.5%) and communication (13.6% vs 16.5%). On a monthly basis, consumer prices increased by 0.1% in August, following a 0.3% gain in the preceding month.

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%.