Dairy products, vegetables or meat: what went up the most in 2024

Prices for the consumer basket in Ukraine increased by up to 15% in 2024, and the rise in prices for basic products hit Ukrainians' wallets hard. The Fora chain told UNN that dairy products, vegetables, and fruits have risen in price the most, while bakery products and meat have shown a more moderate increase. 

Details

The Fora network says that the cost of the consumer basket has increased by up to 15% year-on-year, taking into account food and non-food items, excluding "services" (transportation, communications, utilities such as electricity, water, heating, etc.). 

Dairy products grew the most in retail and purchase prices - butter by 30%, dairy products by 18%, cheese by 19%, and vegetables and fruits. Important categories of the consumer basket also showed growth: oil, bakery products, and fish - from 12 to 17%

It is indicated that compared to the fall of 2023, cereals, flour, sugar, eggs and meat showed a more moderate price increase - from 3 to 10%.

Vegetables and fruits have risen in price the most, by up to 35%, due to poor harvests caused by late frosts and summer heat, as well as rising storage, logistics and inflation costs. 

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Prices for bakery products increased by up to 10%, while meat prices remained relatively stable, rising by 6-10%.

Fora notes that consumers are becoming more attentive to the price and its dynamics, looking for cheaper analogs of familiar products, and thus reducing brand dependence. 

"Consumers are willing to choose a lesser-known brand, including private label (private label) chains. There is a growing dependence on promotions, consumers are actively responding to promotional offers, and they buy long-life goods in reserve. They actively compare prices and the average check of different trading platforms, choosing the most favorable offers," the chain adds.

Also, UNN asked whether prices for basic products are expected to rise further, and what could affect this?

"We should not expect stability in prices. The main factors of influence remain relevant: higher costs for logistics, storage, electricity, dependence on the exchange rate, loss of production and storage resources due to the hostilities, and loss of sown areas. Under such conditions, it is difficult to predict further price increases. The winter-spring season will remain with high prices, which depends on the low harvest of 2024, the situation may improve with the new harvest," noted the company.

Recall 

Earlier, UNN wrote that the cost of basic products in Ukraine has increased due to higher prices for raw materials and lower production volumes, and 44% of Ukrainians have started saving on food, preferring cheaper products.