Inflation in Ukraine increases to 0.7% in Jan, decreases to 7.4% in annual terms – statistics

The growth of consumer prices in Ukraine in January 2026 accelerated to 0.7% from 0.2% in December and 0.4% in November, the State Statistics Service reported on Tuesday.

The statistics agency noted that consumer price growth was 1.2% in January 2025, so annual inflation as of January this year decreased to 7.4% from 8% at the end of December and 9.3% at the end of November.

It said core inflation also rose to 0.4% in January 2026 from 0.1% in December and 0.3% in November. But given that it was 1.3% in January 2025, annual core inflation also slowed — to 7% from 8% at the end of December and 9.3% at the end of November.

As previously reported, inflation in Ukraine jumped to 26.6% in the first year of Russia’s full-scale invasion, then fell to 5.1% in 2023. The following year it rose again to 12%, but in 2025 it was reduced to 8%, partly due to the National Bank’s fairly tight monetary policy.

The National Bank of Ukraine in late January worsened its 2026 inflation forecast to 7.5% from 6.6% and its 2027 forecast to 6% from 5%.