Expert: The growth of prices for cereals and flour will be at the level of 5-8% for the year
Kyiv • UNN
Oleg Pendzin predicts a moderate increase in prices for cereals and flour in Ukraine, up to 8% for the year. The expert also expects stable sugar prices until November and notes that oil is currently cheaper than last year.
In Ukraine, the growth in the cost of flour and cereals is expected to reach a maximum of 5-8% over the year. This opinion was expressed by Oleg Pendzin, a member of the Economic Discussion Club, to a journalist of UNN.
When asked whether prices for cereals and flour are expected to rise, Penzin replied: "By the end of summer, there will not be a big increase for sure. When it is finally clear what the expected harvest will be, when the cost of the grain that will be harvested is finally clear, then we will probably see a small increase in prices. Despite the statements about a big increase, it will not happen. The maximum growth will be 5-7% per year, or 8%. Per month, it will be maybe half a percent, maybe a percent for cereals and about 1-1.5% for bread. That is, it will exist in approximately this format, maybe less for bread.
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Pendzin reminded that the Budget Declaration adopted by the Cabinet of Ministers of Ukraine for 2025 expects inflation to reach 10%.
So that you and I have no doubt that this target will be reached. Therefore, let's assume that if inflation is 10%, the food basket will grow by about 7-8%, and if it grows by 7-8%, then price hikes will be at the level of 0.5-0.7% per month at most
The expert also said that sugar would not rise in price until November.
"We will have new sugar prices no earlier than November. Now we are consuming sugar produced last year. The marketing year for chicken ends in November, which means that the sugar production period ends in November, and in November we will have prices for the new marketing year. Until November, sugar will definitely not rise in price," Pendzin said.
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He also noted that oil is currently cheaper than it was a year ago.
"As for the oil, we will see what happens to the seeds, because the heat has hit the seeds a bit. So far, the oil is cheaper than it was a year ago," Penzin said.