Eggs and vegetables fall in price most, and sugar rises in price among food products in July

In July, consumer prices for food products decreased by 0.8% compared to June, the last such decrease was observed in March-April, but then it was measured in the range of 0.2-0.4%.

The National Scientific Center "Institute of Agrarian Economics" announced this with reference to the information of the State Statistics Service of Ukraine, the Ukrainian News agency reports.

"The main driver of the decrease in consumer prices for food products was the price of eggs (-11.4%) and vegetables (-19.6%). However, prices for other products increased: the most - for sugar (+12.1%), sunflower oil (+2.9%) and fruits (+1.4%). Prices for other groups of goods increased by one percent," said the director of the institute Yurii Lupenko.

According to him, in July compared to December 2023, eggs became cheaper by 47.6%, and the prices of vegetables (-2.6%), meat and meat products (-2.2%) also decreased.

"In annual terms, in addition to the mentioned products, consumer prices for sunflower oil (-7.6%) and sugar (-1.9%) decreased. At the same time, the largest price increase compared to July 2023 was for butter (+16.1 %) and bread (+10.1%). In the coming months, we can expect a further decrease in consumer prices for food products under the influence of the mass arrival of this year's harvest products, primarily of the vegetable group. To a lesser extent, this applies to bread and livestock products, where prices for raw materials are higher than last year,” Lupenko concluded.

As the Ukrainian News agency earlier reported, the actual rates of price growth in July were somewhat lower than the trajectory of the National Bank's forecast.