The National Bank of Ukraine reported that annual inflation accelerated to 8.1% in August 2026, with prices rising 0.1% from July. Headline inflation slightly exceeded the trajectory in the July 2026 Inflation Report, mainly because fuel prices and administered prices rose more than expected. Core inflation remained at 8.1% and was slightly below forecast as service price growth slowed. Fuel inflation surged to 38.7% following higher global oil prices and temporary diesel supply shortages, while administered price inflation increased to 13% as public transportation fares and water and wastewater tariffs rose. War related damage to logistics, production and energy infrastructure continued to increase business costs and constrain supply. The central bank will focus monetary policy on containing inflation and preventing expectations from becoming unanchored, with its current forecast anticipating renewed disinflation in 2027.
2026-09-10National Bank of Ukraine
National Bank of Ukraine reports inflation rose to 8.1% in August, slightly above forecast
The National Bank of Ukraine reported that annual inflation accelerated to 8.1% in August 2026, slightly above forecast because of stronger fuel and administered price increases. Core inflation remained at 8.1% and was slightly below forecast, while the central bank expects prudent monetary policy to return inflation to a slowing trajectory in 2027.