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Ukraine's Inflation Climbs to 11% in October as Fuel Prices Jump 54%
Fuel and transport costs drove the annual pace higher, while the National Bank of Ukraine raised its key rate to 16.5% to curb prices.
- On Tuesday, the State Statistics Service reported Ukraine's annual inflation rose to 11.0% in October from 10.0% in September, driven primarily by fuel prices jumping by more than half.
- The National Bank of Ukraine attributed rising prices to higher fuel costs linked to the war in the Middle East and Russian strikes on logistics and warehouses, which add about 0.7 percentage points to inflation.
- Transport prices surged 30.1% annually while food inflation accelerated to 9.3%; water tariffs climbed 106.5% year-over-year, driving utility costs sharply higher.
- To combat rising prices, the NBU raised its key rate to 16.5% effective October 30, with Governor Andriy Pyshnyy continuing to lead monetary policy amid wartime economic pressures.
- The NBU expects inflation to ease to 7.3% in 2027 and return to its 5% target by 2028, though the economy is forecast to shrink 0.4% this year as wartime challenges impact factories and transport.
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11 Articles
11 Articles
Inflation in Ukraine has accelerated to 11 percent. More expensive fuel, light outages and logistics problems are driving up food and medicine prices.
·Kyiv, Ukraine
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Inflation rose to 11% - eggs fell the most, utilities rose in price and farneIn October, consumer inflation in Ukraine reached 11% in annual terms. Vegetables, fuel, transport and services rose the most education.
·Kyiv, Ukraine
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In the consumer market, food prices rose by 2.0 per cent, the most expensive being vegetables.
·Kyiv, Ukraine
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Consumer inflation in Ukraine accelerated to 11 per cent in annual terms in October, compared with 10 per cent in September, as reported by the State Statistics Service today, 10 November.
Coverage Details
Total News Sources11
Leaning Left3Leaning Right2Center2Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 29%
R 28%
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