Inflation Makes 2.7% In May

In May 2022, consumer prices rose by 2.7%.

This was reported by the State Statistics Service, Ukrainian News reports.

The prices for food and non-alcoholic beverages increased by 2.7% in May, for clothing and footwear, they decreased by 0.2%, for housing and communal services - increased by 0.4%, for services related to health - decreased by 0.9%, and the cost of education did not change.

In May 2022, consumer prices increased by 18.0% year over year.

In the first five months of 2022, inflation made 13.9%.

In May 2022, the basic consumer price index rose by 1.4%.

In the first five months of 2022, the basic consumer price index increased by 9.6%.

Core inflation is a sub-index of the consumer price index.

Core CPI (core inflation) is the part of inflation that reflects the dynamics of free prices without taking into account positions, the prices of which are subject to the influence of administrative and seasonal factors.

As Ukrainian News reported, in April 2022, consumer prices rose by 3.1%, the basic consumer price index rose by 3.0%.

In 2021, inflation was recorded at 10.0%; at 5.0% in 2020, at 4.1% in 2019; at 9.8% in 2018; and at 13.7% in 2017.

In 2021, core inflation was 7.9%.

The state budget for 2022 provides for an increase in consumer prices (December over December) - 6.2%.

The World Bank has published a report stating that the war in Ukraine will cause a "historic" jump in food and energy prices, which will remain high until the end of 2024.