Page 15 - UKRRptJul22

4.0 Real Economy 4.1 Industrial production
Industrial Production in Ukraine increased 2.90 percent in January of 2022 over the same month in the previous year - the latest data available.
4.2 Inflation
Consumer inflation reached 2.7% in May. Consumer prices in Ukraine in May 2022 compared to April 2022 increased by 2.7% and have risen 13.9% since the beginning of the year. Food and non-alcoholic beverages rose by 18.7% compared to the same period last year, and alcoholic beverages and tobacco rose by 12%. In the consumer market in May, prices for food and non-alcoholic beverages increased by 2.7%. Rice and fruit prices rose the most, by 14.3% and 11.5%, respectively. Also, prices for fish and fish products, grain products, vegetables, soft drinks, and pasta increased by 3.2-5.9%. At the same time, eggs fell in price by 21.2%, and beef, sugar, and poultry meat declined by 0.9-2.5%.
The World Bank has downgraded its Ukrainian inflation forecast to 20%.
The World Bank has downgraded its inflation forecast in Ukraine to 20% by the end of 2022, whereas the April forecast was 15%, according to the World Bank regional director. “The increase in inflationary pressure is due to the need to cover budget needs in March and May through the monetization of the National Bank of Ukraine. International partners have recognized these
15 UKRAINE Country Report XXXX 2018 www.intellinews.com