Inflation in Ukraine Reached 8.1% in August 2026

In August 2026, consumer inflation in Ukraine accelerated to 8.1% year-on-year, exceeding the NBU's forecast. The main factors included rising fuel prices, the consequences of Russian attacks on critical infrastructure, and high production costs. The increase in fuel prices had the most significant impact on inflation, with prices rising faster than expected amid the escalation of the war in the Middle East. Additional pressure on prices was created by increases in certain administrative tariffs. Core inflation remained high due to rising business costs for electricity, logistics, and labor. Despite this, the labor market and consumer demand remained resilient, with average wages continuing to grow. The NBU expects that inflation may be higher than the previous forecast in the coming months due to intensified Russian attacks and rising fuel prices. At the same time, a significant supply of food in the domestic market may partially mitigate inflationary pressure. According to the NBU's forecast, inflation should return to a slowdown in 2027 due to measures to strengthen monetary policy.

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