Ukraine has recorded another surge in prices for goods and services, as confirmed by data from the State Statistics Service. In March 2025, consumer prices increased by 1.5%, and annual inflation accelerated to 14.6%, which is higher than the 13.4% figure in February of this year. This is the highest inflation rate since May 2023, when it reached 15.3%.
This is reported by Finway
Prices for Food and Services
According to statistical data, food and non-alcoholic beverages have risen in price by 17.4% over the year. The most significant price changes were observed for eggs, which increased by 44.7%, and sunflower oil, which rose by 35.4%. Vegetables became 32.3% more expensive, while butter increased by 32.2%. Additionally, prices for alcoholic beverages and tobacco products rose by 16.6%, while prices for clothing and footwear decreased by 3.6%.
Among other categories, housing, water, electricity, and gas increased by 20.2%. Prices for household goods and appliances rose by 2.3%, while healthcare became 15.0% more expensive. Transportation costs increased by 9.5%, including fuel, which rose by 9.9%. The communications sector experienced an increase of 18.9%, while prices for recreation and culture rose by 1.0%, and education by 12.1%. Restaurants and hotels became 14.1% more expensive, while other goods and services increased by 11.1%.
Inflation Forecasts
It is worth noting that annual inflation in Ukraine reached 12.0% in December 2024. In January 2025, the National Bank of Ukraine downgraded its forecast for consumer price growth to 8.4% for this year. This downgrade of 1.5 percentage points was a result of rising food prices due to adverse weather conditions and increased production costs, particularly due to imbalances in the labor market.