Inflation in Ukraine rose to 0.5% in May but declined to 15.3% annually
A year ago in May 2022, inflation was recorded at 2.7%
The increase in consumer prices in Ukraine in May 2023 accelerated to 0.5% from 0.2% in April after slowing from 1.5% in March, 0.7% in February and 0.8% in January.
This was reported by the State Statistics Service.
At the same time, inflation of 2.7% was recorded in May 2022, so on an annual basis at the end of May 2023, it decreased to 15.3% from 17.9% at the end of April, 21.3% at the end of March, 24.9% at the end of February, and 26.6% at the end of December.
Core inflation last month fell to 0.3% from 0.5% in April and 1.3% in March, the State Statistics Service noted. Given that the core inflation rate was 1.4% in May last year, it also decreased on an annual basis at the end of May to 15.9% from 17.2% at the end of April, 20.1% at the end of March, and 22.7% at the end of February.
Since the beginning of the year, inflation in the country has been 3.8%, with the core rate at 3.3%, the State Statistics Service clarified.
Background. As reported, in April the National Bank of Ukraine improved its inflation forecast for this year from 18.7% to 14.8%, in particular, at the end of the second quarter, it expected a decrease to 14.5%.
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