Milk, meat, bread: manufacturers sharply raised prices on essential products.

In August 2024, industrial product manufacturers faced a significant increase in wholesale prices. Compared to last year, prices increased by 31.2%. Prices in the domestic market rose by 35.0%, while export product prices increased by 6.7%.

The State Statistics Service of Ukraine provided this data. In particular, the price of food products, beverages, and tobacco products increased by 10.5%. Prices for dairy products rose by 17.8%, and for meat by 16.4%. However, sugar prices decreased by 10.3%.

Experts note that changes in wholesale prices typically affect consumer prices in stores with a delay of several months.

Against the background of rising prices in Ukraine, global food prices continued to decline in August 2024. The FAO price index decreased by 1.1% compared to last year and by 24.7% from the peak value of March 2022.

There has been an acceleration in consumer inflation in Ukraine. In August 2024, it reached 7.5%, the highest rate compared to August of the previous year. The National Bank of Ukraine revised its inflation forecast for 2024, raising it from 8.2% to 8.5%.