Inflation at the end of 2022: lower than was predicted

The State Statistics Service provided data that consumer inflation at the end of 2022 amounted to 26.6%. This is less than the figures predicted in the first half of last year.

For comparison, according to Eurostat, inflation was 23.1% in Hungary, 21.7% in Latvia, 21.4% in Estonia and Lithuania, 16% in Poland, 1%.

As noted in the Ministry of Economy, since February 24, inflation in Ukraine has been shaped by two main factors of the war. The first is the extent of destruction of infrastructure and logistics and, accordingly, the speed of recovery and adaptation of the economy. The second is the level and speed of migration, which affected the demand and supply of labor resources.

In 2021, the inflation index in Ukraine was 10%. And it was the largest in 2014 and 2015 — 24.9% and 43.3%, respectively.