The actual rates of price growth in July were somewhat lower than the trajectory of the National Bank's forecast.
This is stated in the message of the NBU, the Ukrainian News agency reports.
This is primarily due to the more moderate effect of hot weather on raw food prices.
On the other hand, the fundamental inflationary pressure increased as expected.
Core inflation rose to 5.7% in July from 5.0% in June.
Such dynamics were ahead of the trajectory of the NBU's July forecast.
It is caused primarily by the faster increase in the price of processed food products under the influence of higher energy costs, product storage and labor costs.
Carry-over effects from the weakening of the hryvnia exchange rate supported the price pressure.
At the same time, inflationary expectations remained quite stable.
The price of sugar and cereals decreased more slowly due to the depletion of stocks from the previous high harvests.
Prices for tomatoes also slowed down, and prices for cucumbers - significantly increased under the influence of a smaller supply of quality products against the background of weather conditions that were more difficult than last year.
Milk prices accelerated due to hot weather, while banana prices rose amid increased external demand.
On the other hand, stone fruits and watermelons became cheaper.
Also, the prices of apples and certain vegetables of the borscht set decreased due to the increase in the sale of products from warehouses against the background of hot weather and interruptions in the supply of electricity.
Despite the hot weather, egg prices continued to fall.
The secondary effects of weaker pressure on feed costs continued to affect the price of pork and chicken.
Prices for alcoholic beverages decreased more and more slowly.
In addition, the growth of prices for pharmaceutical products, medical goods and equipment accelerated, probably due to the exchange rate factor.
The increase in the price of tobacco products slowed down, but their prices grew at a fairly high rate, including under the influence of the fight against shady products.
At the same time, inflation was further restrained by a moratorium on tariff increases for certain housing and communal services for the population.
As the Ukrainian News agency earlier reported, consumer prices did not change in July 2024 compared to June 2024.
In January-July 2024, inflation was 4.3%.
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