In June 2025, the rate of consumer price growth in Ukraine noticeably slowed down — inflation was 0.8% compared to 1.3% in May. This data was released by the State Statistics Service.
This is reported by Finway
Inflation Dynamics Over the Past Year
According to the agency’s information, inflation reached 2.2% in June 2024. Thus, in annual terms, a decrease in the indicator was recorded for the first time in the last 12 months — down to 14.3% in June 2025. For comparison, in May, inflation was 15.9%, in April — 15.1%, and in March — 14.6%.
In 2023, the inflation rate in Ukraine decreased to 5.1% after a sharp rise to 26.6% in the previous year. By the end of 2024, the figure increased again and reached 12%.
Forecasts and Expectations of the National Bank
Since the beginning of 2025, the National Bank of Ukraine has revised its inflation forecast twice. In April, the regulator worsened the expected level — from 8.4% to 8.7% by the end of 2025. At the same time, the NBU maintains its forecast for inflation to return to the target level of 5% in 2026.
“The NBU expected that by the end of the second quarter, inflation would decrease to 13.7%, and by the third — to 12.3%, while core inflation would be 12.7% and 11.4%, respectively.”
At the beginning of June, the National Bank noted that inflation in May 2025 likely reached a local maximum and exceeded the projected trajectory. The reasons for this phenomenon are attributed to seasonal factors and rising production costs for businesses.