Consumer price growth in Ukraine in May 2022 slowed down to 2.7% from 3.1% in April and 4.5% in March, but exceeded 1.6% in February and 1.3% in January, the State Statistics Service said on Thursday.

In May last year, inflation was 1.3%, so in annual terms, in May this year, it rose to 18% from 16.4% in April, 13.7% in March, 10.7% in February and 10% - following the results of January, the department indicated.

Underlying inflation over the past month also declined to 1.4% from 3% in April and 3.8% in March. However, taking into account 0.7% in May 2021, in annual terms it increased to 13.7% from 13% in April, 10.5% in March, 8.2% in February and 7.6% in January.

Since the beginning of this year, for its first five months, inflation in Ukraine amounted to 13.9%, and underlying inflation - 9.6%, the service said.

The National Bank of Ukraine, as reported by its head Kyrylo Shevchenko, expected an increase in inflation in May up to 17%.

As reported, in 2021 inflation in Ukraine rose to 10% from 5% in 2020 and 4.1% in 2019, while underlying inflation rose to 7.9% against 4.5% a year earlier.