Inflation Ukraine 2024
Average inflation: 6.5%
Inflation in 2024
Inflation is very high at 6.5%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 12.0%. The lowest inflation was in March at 3.2%.
- Highest month
- December: 12.0%
- Lowest month
- March: 3.2%
- Difference
- 8.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 16.2%. The lowest price increase was in Core inflation with an average of 3.6%.
- Highest increase
- Energy: 16.2%
- Lowest increase
- Core inflation: 3.6%
Historical Context
Inflation is 3.9 percentage points lower than the 5-year average of 10.4%.
- 5-year average
- 10.4%
- 10-year average
- 14.9%
- All-time high (2015)
- 48.5%
- All-time low (2013)
- -0.2%
Trend
Over the period 2022-2024, inflation shows a downward trend. Compared to 2023, inflation has fallen by 6.9 percentage points.
- Change vs. previous year
- -6.9 percentage points
- Largest monthly swing
- January: -21.3 percentage points
ECB Target
Inflation is 4.5 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for UAH 100 this year will cost approximately UAH 106.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 4.7% | -21.3 |
| February | 4.3% | -20.6 |
| March | 3.2% | -18.1 |
| April | 3.2% | -14.7 |
| May | 3.3% | -12.1 |
| June | 4.8% | -8.0 |
| July | 5.4% | -5.9 |
| August | 7.5% | -1.1 |
| September | 8.6% | +1.5 |
| October | 9.7% | +4.4 |
| November | 11.2% | +6.1 |
| December | 12.0% | +6.9 |
| Average | 6.5% |
Data source
Data from WorldBank. Last updated: 06/01/2026.