In July 2023, Ukraine may experience a slight increase in overall inflation, while core inflation continues to decline. 

This information was released by the National Bank of Ukraine.

The NBU has revised its inflation forecast downward, considering the significant war-related losses, the rising costs for businesses, negative crop forecasts, and the weakening of the hryvnia against the euro.

New estimates suggest that inflation could decrease to 9.7% by 2025 (previously 8.7%), 6.6% by 2026 (formerly 5%), and reach 5% by 2027.

"The inflation dynamics in the coming months will largely depend on the actual impact of weather conditions on the supply and prices of agricultural products," the report states.

Measures in monetary policy, gradual increases in crop yields, moderate external price pressure, and improvements in the labor market are expected to contribute to the reduction of inflation, alongside the stability of the currency market and sufficient international financing.