Price growth in Ukraine: what became more expensive in August 2024

Ukrainian manufacturers recorded a significant increase in wholesale prices for industrial products in August 2024. According to data from the State Statistics Service, prices increased by 31.2% compared to August last year, and by 2.2% compared to July 2024. This trend indicates serious changes in the economic situation in the country.

In the domestic market of Ukraine, prices increased by 35.0%, while abroad - by only 6.7%. This indicates that Ukrainian manufacturers face greater challenges in the context of inflation and rising production costs.

According to statistics, the food, beverage and tobacco sector also experienced significant price increases. In August 2024, prices in this category increased by 10.5%. The domestic price increase in Ukraine was 10.8%, while the increase outside the country was 9.2%.

The increase in prices for dairy products was especially noticeable, increasing by 17.8%. In Ukraine, this growth was 16.7%. Similarly, prices for meat production increased by 16.4%, which also reflects significant costs for producers in this industry.

In contrast to these trends, sugar producers experienced lower prices. During the year, sugar prices fell by 10.3%. This aspect may indicate a repositioning in the market or a decrease in demand for this product.

Rising prices for basic food products and other categories indicate the economic difficulties the country is facing. This issue needs attention from government structures to ensure the stability of the price situation and support producers.