The accelerated rate surpassed forecasts made by Ukraine’s National Bank in November, which estimated that Ukraine would end 2024 at an annualized 9.7% inflation rate.
The main driver for inflation growth in 2024 was the increasing cost of groceries as well as electricity costs.
Ukraine’s National Bank predicted in November that the country’s annual inflation rate will drop to 6.9% in 2025, and return to the bank’s 5% target in 2026.
Shocking it is so low given the bombings and invasion and death.
Good job Ukrainians!