Inflation in Ukraine is slowing down and may approach 5% - NBU
Kyiv • UNN
Inflation in Ukraine decreased from 16% to 8% at the end of last year, and at the beginning of 2026 continued to slow down to 7.4%. This was facilitated by high harvests and the NBU's actions regarding the foreign exchange market.
Inflation in Ukraine continues to decline - from 16% to 8% at the end of last year. In addition, at the beginning of 2026, the slowdown in inflation continued. This was reported by the National Bank of Ukraine, according to UNN.
Details
In the spring of 2025, inflation was quite high (almost 16%), but since then it has rapidly decreased and by the end of the year it was already 8%. At the beginning of 2026, the decline in inflation continued. Thus, in January, consumer prices were on average 7.4% higher than a year ago. High harvests last year significantly contributed to the reduction of inflation. Thanks to them, the growth of prices for most food products slowed down significantly, and some even turned out to be cheaper than in the previous year
The NBU's actions were also aimed at slowing down inflation. The National Bank maintained a stable situation on the foreign exchange market, which limited the rise in prices of imported goods. In addition, the attractiveness of savings in hryvnia was maintained, which restrained demand-side pressure on prices.
The NBU expects that inflation will be moderate this year, and then will decrease to the target level of 5%.
This will be facilitated by the expected increase in harvests (if there are no weather anomalies), as well as NBU measures. The main risk to the inflation forecast, of course, remains the course of the war
Recall
The National Bank of Ukraine set the official dollar exchange rate for March 4 at 43.45 hryvnias. This is a new record, the previous one was recorded on January 19 at 43.41 hryvnias.