Food producers have raised prices by 15%: discover which items have increased the most.

In October 2024, wholesale prices for industrial products increased by 24.5% compared to October of the previous year. Prices within Ukraine rose by 26.0%, while those outside Ukraine grew by 11.9%.

This information is reported by RBK-Ukraine citing data from State Statistics Service.

According to the statistical agency, the prices for food products, beverages, and tobacco products increased by 14.7%, including a 15.0% rise within Ukraine and a 13.5% increase outside Ukraine.

The highest price increase was observed in the production of dairy products, which grew by 21.2%, with a 20.2% increase within Ukraine, and in meat production, which rose by 13.5%, including a 13.8% increase domestically.

In contrast, sugar producers saw their prices drop by 3.9% over the year, including a 3.0% decrease within Ukraine.

Price Increase in Ukraine

It is worth noting that, according to the State Statistics Service, consumer prices in Ukraine increased by 1.8% in October. Annual inflation reached 9.7%.

Food products and non-alcoholic beverages have risen in price by 10.8% over the year.

According to the National Bank of Ukraine (NBU), inflationary pressure is expected to persist in the coming months due to a lower supply of certain food products compared to last year, an increase in aggregate demand resulting from significant budget expenditures, rapid wage growth, and a shortage of electricity during the heating season.

The NBU anticipates that inflation may exceed 10% by the end of the year; however, inflation is expected to decline in the spring of 2025, with a projected rate of 6.9% by the end of 2025.

Wholesale prices for producers are typically reflected in retail prices with a lag of several months.