The accelerated rate surpassed forecasts made by Ukraine’s National Bank in November, which estimated that Ukraine would end 2024 at an annualized 9.7% inflation rate.

The main driver for inflation growth in 2024 was the increasing cost of groceries as well as electricity costs.

Ukraine’s National Bank predicted in November that the country’s annual inflation rate will drop to 6.9% in 2025, and return to the bank’s 5% target in 2026.

  • @Buffalox
    26•2 days ago

    with vegetables increasing 48.3% in price. Amid Russian attacks on energy infrastructure, electricity costs also increased by a massive 63.6% year over year in December, Derzhstat reported.

    The war puts a lot of strain on the Ukrainian economy. It’s really sad how Russia is putting Ukraine through this, and the Ukrainian population needs to endure so much, just because Putin is an insane sociopath with no remorse, not even towards his own population.

    Despite the high inflation, Ukraine’s economy has managed to adapt to the realities of the full-scale war as Russia’s economy faces increasingly unfavorable forecasts.

    Yes this is very true, despite the circumstances the Ukrainian economy is actually beginning to improve. The Russian situation may seem similar on the surface, but it’s not. While Putin had build a war chest and prepared, Russia did surprisingly well in the beginning, but the cracks in the Russian economy are spreading throughout every aspect of it, and the Russian economy is more and more falling apart, with no way to fix it, that doesn’t start with ending the war.
    But apparently Putin is too much a narcissist to be willing to recognize that, so he will probably continue until the collapse is total, or he is removed.