Consumer inflation accelerated in December 2022. Although it remained moderate and below the forecast of the National Bank. This is evidenced by the data of the Macroeconomic and Monetary Review of the NBU (January 2023).

The NBU believes that business costs, including those for energy and logistics, remain the main factors in accelerating inflation.

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Although, compared to October, inflation grew more slowly due to the expansion of food supplies, de-occupation of territories, weak consumer demand, strengthening of the hryvnia cash exchange rate and stabilization of inflation expectations.

The NBU does not provide inflation figures for 2022, but the published chart shows that, according to the central bank, it was about 27.5%.

According to the NBU, the components of the core CPI grew at a faster pace, which reflects high business costs, primarily for energy and logistics.

Food prices slowed down due to the expansion of the supply of borscht vegetables, meat, cereals and sugar.

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