2024 price trends in Ukraine — products and services that saw a January decrease

Prices 2024: Which products and services became cheaper in January
Prices 2024: Which products and services became cheaper in January

The growth of prices for food and some services slowed down, with the cost of eggs, oil, cereals and sugar decreased in January 2024, Ukraine’s National Bank reported, citing State Statistics Service data, on Facebook on Feb. 12.

The deceleration in food prices is notable for bread, flour and confectionery products, meat products, and milk. The decline in the cost of eggs, oil, cereals, and sugar is attributed to increased production and producers shifting focus to the domestic market.

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Certain products experienced an increase in prices, including vegetables of the borscht set, apples, fish products, and dairy products. This trend is linked to the receipt of more expensive greenhouse products and an increase in logistics costs due to border blockades.

Non-food prices fell slightly, primarily due to a deepening decline in prices for clothing and footwear. Prices for other non-food products, including electronics and household appliances, fell more slowly.

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The cost of services exhibited slower growth, particularly for medical services, veterinary services, financial services, services of restaurants and cinemas, and car maintenance. Individual housing maintenance services and personal care services became more expensive faster due to increased demand and a shortage of qualified personnel.

The moratorium on raising housing and communal services tariffs for the population continued to restrain administrative inflation. The growth of prices for some medicines accelerated due to the rise in the cost of imports and increased demand related to seasonal influenza and acute respiratory viral infections.

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