Markets

Ukraine Inflation Hits 8.1 Percent in August

By Markets Desk · 2026-09-19 · 1 min read

A wooden crate filled with fresh vegetables and fruits on a market stall — Illustration: Tradingbird

Ukraine’s annual inflation rate reached 8.1% in August, matching core inflation and remaining above the central bank's 5% target. Fuel costs drove the increase, offsetting a seasonal drop in food prices.

Ukraine’s annual consumer inflation reached 8.1% in August. Core inflation matched this figure, excluding volatile and regulated items. Both metrics exceed the National Bank of Ukraine’s 5% target. The data was published by the State Statistics Service on September 9.

Fuel and transport costs rose significantly. Water and sewerage tariffs increased due to higher bills. These factors offset a seasonal decline in food prices. New harvests reduced the cost of fruits and vegetables.

Fuel Costs Drive Price Increases

Fuel prices rose 38.7% year-on-year in August. This accelerated from 28% in July and 33% in June. Transport services cost 35.9% more than a year earlier. Road passenger transport prices increased by 39.1% annually.

Water supply tariffs rose 16.8% in August. Sewerage tariffs increased by 16.7%. Compared with a year earlier, water tariffs were up 77.6%. Sewerage tariffs stood at 73.6% higher. These double-digit monthly increases have continued since June.

Food Prices Fall With Harvest

Food and nonalcoholic beverage prices fell 1.3% in August. This marked the steepest monthly decline this year. Annual food inflation eased to 6% from 6.5% in July. Vegetable prices dropped 18.3% as the new harvest reached markets.

Fruit prices decreased by 12%. Egg prices rose 4% but remained 24.1% lower than a year earlier. Meat and meat products rose 0.9%, reversing July’s decline. Fish and fish products saw the largest annual increase at 22.7%.

Central Bank Warns of Persistent Inflation

NBU Deputy Governor Volodymyr Lepushynskyi noted damage to logistics. This damage could add 0.4 to 0.6 percentage points to inflation by 2026. Most of this impact is expected in autumn. The central bank anticipates inflation remaining above target for an extended period.

Service price inflation slowed to 13.4%. Increases eased for mobile communications and health insurance. Taxi and moving services became more expensive due to fuel costs. Housing rentals and dental services also saw accelerated price increases. GN markets/inflation (en-US) reports these trends continue to shape consumer spending.

Based on reporting by Kyiv Post, compiled by the Tradingbird desk.