Industrial inflation slows to 2.2% in August - State Statistics

The industrial producer price index totaled 2.2% in August, while the same indicator slowed to 31.2% year-on-year.

The latest data from the State Statistics Service shows that the industrial producer price index, which tracks the average change in wholesale prices for raw materials and intermediate consumption goods, reached 2.2% in August, down from 8.8% in July.

The primary factor contributing to the deceleration in industrial inflation last month was the cost of electricity, gas, steam, and air conditioning, which increased by 3.6% in August (16.6% in July).

Concurrently, energy prices increased by 56.6% year-on-year, which has an impact on the annual industrial inflation rate, which reached 31.2% in August.

As reported by Ukrinform, consumer inflation accelerated in August, reaching 7.5% year-on-year from 5.4% in July. This suggests that inflationary pressures are likely to persist in the coming months.