In April, inflation accelerates to 15.1% year-on-year - NBU

In April 2025, inflation accelerated to 15.1% year-on-year, in monthly terms, prices increased by 0.7%.

This is announced in the National Bank’s of Ukraine (NBU) statement, Ukrainian News Agency reports.

It is noted that the growth in consumer prices was slightly lower than the trajectory of the National Bank's forecast.

The acceleration of inflation last month was largely due to the residual effects of last year's poor harvests and a further increase in prices for alcoholic beverages and tobacco products.

High business costs for labor in conditions of a shortage of personnel and brisk consumer demand remained pro-inflationary factors.

The growth rate of prices for raw food products accelerated to 22.2%.

Flour and cereals, fruits and vegetables (primarily borscht sets) rose more quickly due to the low supply of quality products.

An additional factor was the shift in seasonality of demand for certain food products, primarily eggs, due to Easter, which this year fell in April (in 2024 - in May).

The growth in the cost of non-food goods slowed down to 3.8% y/y.

This was facilitated, in particular, by the maintenance of a stable situation in the foreign exchange market.

Services inflation remained at a fairly high level (14.6% y/y), primarily due to further wage growth and stable consumer demand.

Compared to March, the cost of restaurant and hotel services, transport and financial services grew faster.

In contrast, the growth in prices for personal care services and insurance services slowed down.

Administratively regulated prices increased by 19.5%.

The faster increase in the cost of excisable products was due to a further increase in production costs; tax changes (increasing excise duties and converting them into euros, which came into force at the end of March 2025; applying a coefficient of 1.1 to the minimum tax liability from April 1, 2025 to December 31, 2025) for manufacturers and importers of tobacco products, as well as strengthening measures to combat shadow supply.

The growth rate of fuel prices slowed to 3.7%.

As Ukrainian News Agency earlier reported, the National Bank has worsened the inflation forecast from 8.4% to 8.7% for the end of 2025.