Not all goods will rise in price in the coming months, but prices may increase by 3-5% - Ministry of Agrarian Policy
Kyiv • UNN
Acting Minister of Agrarian Policy Taras Vysotsky predicts a possible 3-5% increase in food prices in Ukraine due to difficulties with electricity supply. However, not all products will rise in price, some seasonal products may even become cheaper.
Not all products in Ukraine will become more expensive in the coming months due to difficulties in the energy sector, but there may be a general upward trend - by 3-5%. This was announced by the acting Minister of Agrarian Policy and Food Taras Vysotsky during a telethon on Saturday, UNN reports.
Details
"Definitely, food production depends on the cost and availability of energy, including electricity, so there is a connection. There are several factors that will affect prices. First, what will be the situation with power outages, as we can see, in July the situation was difficult, in August the situation has now leveled off. The share of electricity in the cost of various products varies. It can range from a few to several tens of percent," said Vysotsky.
Therefore, he said, it should be analyzed individually.
"But in general, if we look at the industry and what happened in July and potentially could happen in the electricity market and prices, we estimate it to be around 3-5%. Indeed, there may be an increase of up to 3-5% in the cost of final products due to difficulties in the electricity market. But we need to remember that this is not the only factor, so sometimes certain seasonal products have a peak harvest in August-September, and they will be cheaper, so even difficulties in the electricity market will not affect the price," Vysotsky said.
Therefore, he noted that we need to look at different trade groups.
Not all goods will rise in price in the coming months due to difficulties in the electricity market. But the general trend may be upward by 3-5%
In addition, Vysotsky said that a 10% increase in agricultural prices is the most pessimistic scenario.
"10% is the most pessimistic scenario. It is assumed that the company will operate for more than 12 hours or even constantly on a generator, i.e. an alternative energy source. Obviously, this scenario was evaluated because we saw how difficult it was to supply electricity in July. We now expect that in August, September, and October the situation will be more controlled and stable," said Vysotsky.
