Finance
Ukraine's May inflation at 15.9% due to rising food prices
Published by Global Banking & Finance Review®
Posted on June 10, 2025
1 min readLast updated: January 23, 2026
Quick Summary
Ukraine's inflation hit 15.9% in May due to rising food prices. The central bank expects a slowdown as new harvests arrive.
Ukraine's Inflation Hits 15.9% in May Amid Rising Food Costs
KYIV (Reuters) -Ukraine's consumer price inflation rose to 15.9% year-on-year in May, driven by increasing food prices, the statistics service said on Tuesday.
Inflation has been growing quicker than initially expected so far this year, following a smaller harvest last year. Food prices grew by 22.1% in May compared to the same month a year ago, the statistics data showed.
The central bank kept its benchmark rate unchanged at 15.5% this month, saying that inflation had reached its local peak in May as prices for fresh fruits and vegetables were high after unseasonably cold spring months.
Data showed that fruit prices were up by 17.6% in May compared with April. Overall consumer prices grew by 1.3% in May compared with April, the statistics service said.
The central bank expects inflation to start slowing down in the summer months as the new harvest arrives.
The central bank forecasts inflation to slow to about 8.7% by the end of the year. In 2024 annual inflation reached 12%.
(Reporting by Olena Harmash; Editing by Sharon Singleton and David Evans)
Key Takeaways
- •Ukraine's inflation reached 15.9% in May.
- •Food prices increased by 22.1% year-on-year.
- •Central bank maintained a 15.5% benchmark rate.
- •Inflation expected to slow with new harvests.
- •Fruit prices rose 17.6% from April to May.
Frequently Asked Questions about Ukraine's May inflation at 15.9% due to rising food prices
1What was Ukraine's inflation rate in May?
Ukraine's consumer price inflation rose to 15.9% year-on-year in May.
2What is driving the inflation in Ukraine?
The inflation is primarily driven by increasing food prices, which grew by 22.1% in May compared to the same month a year ago.
3What action did the central bank take regarding interest rates?
The central bank kept its benchmark rate unchanged at 15.5% this month.
4What does the central bank expect for inflation in the coming months?
The central bank expects inflation to start slowing down in the summer months as the new harvest arrives.
5What is the inflation forecast for the end of the year?
The central bank forecasts inflation to slow to about 8.7% by the end of the year.
