Ukraine’s March Inflation Accelerates to 1.7%

Higher fuel, transport, and seasonal costs have pushed consumer prices up, according to official statistics. Make us preferred on Google Share Facebook X (Twitter) LinkedIn Bluesky Email Copy Copied An illustration depicting a red arrow placed over a scattered pile of Ukrainian Hr.500 ($11.5 as of April 2026) banknotes, signifying an economic drop (Image via Depositphotos) Content Share Facebook X (Twitter) LinkedIn Bluesky Email Copy Copied Flip Make us preferred on Google Inflation in Ukraine accelerated in March, with consumer prices rising 1.7%, according to data released by the State Statistics Service. Price growth was largely driven by higher transport costs, which rose 6.4%, reflecting a sharp increase in fuel prices . Prices for fuel and lubricants jumped 13.2% during the month. Follow our coverage of the war on the @Kyivpost_official . Diesel prices saw the sharpest increase in Ukraine, rising from Hr.61 ($1.4) per liter in early March to Hr.85 ($1.9) by month’s end, according to Finance Ministry data . Prices in the communications sector rose 2.5%, mainly due to a 3.8% increase in mobile service tariffs – Ukraine officially joined the EU’s single-roaming zone this year, with Ukraine’s former digital minister noting before the decision was finalized that prices are likely to increase . Prices for food and non-alcoholic beverages increased 1.3%, with eggs recording the largest rise at 7.7%. Clothing and footwear also saw significant seasonal increases, rising 12.0% and 11.8%. The acceleration follows a trend of rising prices earlier in the year, with monthly inflation increasing to 1% in February , up from 0.7% in January . Renewed tensions in the Middle East have also contributed to higher global energy prices, adding to fuel costs. Increased volatility in oil markets has raised transportation and insurance expenses, which feed into domestic fuel prices in Ukraine and affect logistics and food distribution. Other Topics of Interest Budanov Says Strikes on Russian Oil Terminal Strengthen Ukraine’s Position in Talks Ukraine’s former intelligence chief and now head of the Presidential Office said recent intensified attacks on Russian oil are strengthening Kyiv’s position ahead of future talks with Russia. “That is, potentially, if tensions continue and the Strait of Hormuz is blocked, keeping energy prices high, this could lead to higher inflation rates by the end of this year,” Deputy Governor Volodymyr Lepushynskyi said at a briefing on Thursday, March 19. At the same time, prices for some staple goods, such as sugar, rice, pasta, and several meat products, declined. The National Bank of Ukraine (NBU) has warned that inflationary pressures are likely to remain elevated in the near future due to high energy costs, supply-chain disruptions, and continued Russian attacks on infrastructure. Veronika Sukhanych is a political analyst with a foundation in governance, legal research, and international policy. Kyiv-born and educated in comparative politics, her background includes research on global financial institutions, responsible AI governance, and security policy.