The National Bank of Ukraine reported that the deviation of inflation from the forecast trajectory was primarily due to a faster rise in prices of raw foods due to adverse weather conditions in spring and active food exports.
This is stated in the NBU report, Ukrainian News Agency reports.
The growth rate of prices for raw foods accelerated to 26.4%.
Thus, the rise in prices of pork, chicken, beef, eggs, and milk accelerated significantly against the backdrop of active exports, high external prices, increased production costs, and a decrease in the number of pigs and cattle.
The growth rate of the cost of apples, stone fruits, berries, and some greenhouse vegetables increased significantly due to a delay in the harvest and a decrease in yields due to cold snaps and frosts.
Fish, cereals, flour and sunflower oil rose more quickly.
Administratively regulated prices increased by 19.8%.
The faster increase in the cost of individual excisable products was due to a further increase in production costs, tax changes for manufacturers and importers of tobacco products, as well as increased measures to combat shadow supply.
The growth rate of the cost of pharmaceutical products, medical goods and equipment slowed down against the background of a certain strengthening of the hryvnia against the US dollar.
The growth rate of fuel prices slowed down to 1.2%.
In May, the growth in fuel prices slowed down as expected compared to April due to cheaper imports, a surplus of diesel fuel and autogas on the domestic market and competition between gas station chains in the gasoline segment.
Inflation grew as expected in the spring, however, according to the NBU, in May it already reached this year's maximum.
In the future, its slowdown is expected for a wide range of goods and services.
In particular, this should be facilitated by the expansion of food supply against the background of the arrival of new harvests.
In addition, the slowdown in inflation will be facilitated by the better situation in the energy sector than last year, a decrease in world oil prices and a weakening of external price pressure, as well as the further impact of the NBU's monetary policy measures.
Last year's high base for comparing administratively regulated prices will also have a significant statistical effect, in particular due to a one-time increase in electricity tariffs in June 2024.
As Ukrainian News Agency earlier reported, in May 2025, consumer prices increased by 1.3%.
Compared to May 2024, in May 2025, consumer prices increased by 15.9%.
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