Price pressure will increase in coming months - NBU

In the coming months, price pressure will increase primarily due to significant production costs of enterprises, in particular, for labor costs, exhaustion of the effects of cheaper prices of certain raw products, the expected revision of public transport fares and water supply tariffs in a number of cities and regions.

This is stated in the NBU's message, Ukrainian News Agency reports.

These and other factors will be taken into account in the updated macroeconomic forecast, which will be published on July 30, 2026 during a press briefing following the results of the decision of the Board of the National Bank of Ukraine on monetary issues.

The actual indicators of general inflation corresponded to the National Bank's forecast published in the Inflation Report for April 2026.

Instead, core inflation continued to exceed the forecast trajectory both due to the increase in producer costs in the food processing industry and due to higher prices for services and the background of faster wage growth.

It is noted that in June, prices for raw food products decreased in annual terms and were significantly lower than the forecast. The list of commodity groups with lower average prices than last year continued to expand. Thus, pork became cheaper due to cheaper imports due to overproduction in the EU, chicken and eggs - due to the expansion of domestic supply, vegetables - due to the start of sales of products from summer greenhouses, and fruits - due to the intensification of sales of last year's harvest and seasonal growth in supply.

The growth rate of prices for non-food products also accelerated slightly - to 0.5% y/y.

The growth rate of prices for processed food products remained unchanged in June (10.4% y/y). The largest contribution was made by sunflowerseed oil - due to low sunflower stocks and dumplings - under the influence of higher fuel and electricity costs required for storing frozen products. At the same time, the rate of price increases for sausage products slowed down due to lower prices for pork and chicken. The growth of prices for soft drinks also slowed down due to lower world prices for coffee than last year.

The growth rate of administratively regulated prices accelerated - to 10.7% y/y.

The main reason was the introduction of higher tariffs for water supply in a number of cities. In addition, prices for alcoholic and tobacco products continued to grow.

Fuel inflation slowed down to 33.4% y/y.

This dynamics was primarily due to a decrease in monthly prices for diesel fuel and autogas. At the same time, gasoline prices remained relatively stable.

As Ukrainian News Agency earlier reported, in June 2026, consumer prices decreased by 0.1%.