Headline consumer prices in Ukraine held at 8.1% year-on-year through August, with core inflation at the same level, as higher fuel and water tariffs counterbalanced a typical seasonal dip in the cost of food. Underlying inflation — which strips out fluctuating and certain regulated prices — held above the NBU's 5% benchmark. Produce and vegetable costs declined as freshly harvested supplies arrived at retail outlets. Energy prices and haulage expenses kept climbing, with revised levies adding to the cost of water and sewerage services. Ongoing conflict in the region has driven up fuel and supply chain expenses, while workforce shortages have placed additional strain on the cost of services. Attack-related damage to commercial infrastructure in Ukraine has pushed up both repair expenditures and supply chain costs. NBU Deputy Governor Volodymyr Lepushynskyi has indicated that harm to non-military supply and retail infrastructure could push annual inflation up by between 0.4 and 0.6 percentage points before the close of 2026. The monetary authority anticipates that the bulk of those effects will become apparent by autumn. On 9 September, the State Statistics Service released its newest data report. In August, the cost of fuel climbed 38.7% against the same month a year earlier, accelerating from 33% in June and 28% in July. The cost of transport climbed to 35.9% above the previous year's level, compared with a 28.9% annual rise recorded in July. Annual fares for road-based passenger services climbed 39.1%, while those for rail travel went up by 16%. Drinking water charges climbed 16.8% in August while sewerage rates rose 16.7%, continuing a streak of double-digit monthly hikes that has persisted since June. Water charges climbed 77.6% and sewerage rates 73.6% over the preceding twelve months. In August 2026, consumer price growth in Ukraine held at 8.1% across both headline and core measures, exceeding the National Bank's 5% target rate. Prices for food and non-alcoholic drinks dropped 1.3% in August, marking the largest monthly decrease recorded so far this year. The yearly rate of food price increases dropped to 6% in the most recent period, down from 6.5% in July. Costs for vegetables declined by 18.3% in August, with fruit prices also retreating by 12%; the National Bank of Ukraine attributed the movement in its August 2026 Inflation Update to a easing of vegetable price growth within the borshch basket, linked to the arrival of the new harvest. The cost of eggs climbed 4% in August, though the figure still sat 24.1% below the level recorded twelve months prior. The cost of sugar climbed by 2.2 percent over the period. Prices for beef, pork, and related products climbed 0.9%, offsetting a 0.6% drop recorded the previous month. The NBU also highlighted growing capital flows into poultry production, which had broadened the availability of chicken. Seafood and related products recorded a 1.6% monthly uptick in August, with the year-on-year figure climbing 22.7%, the steepest annual gain across all listed food categories. Prices for bread and pasta each climbed 0.7% over the period, while the cost of butter edged down 0.6%. Shelter and energy expenses climbed 1.3% during August. Waste disposal charges rose 2.1% over the month and 18.5% compared with the previous year. Rates for electricity, natural gas, hot water, and heating have held steady throughout 2026, with no adjustments recorded across the year. Prices for alcohol and tobacco climbed 1.5% in August, keeping pace with July, while tobacco products on their own posted a 2.1% gain. The combined category posted year-on-year inflation of 17%, up from 16.2% recorded in July. The NBU reported that yearly inflation in service prices eased to 13.4 per cent. Costs in mobile communications, health insurance, and financial services rose at a slower rate. Fares for taxi and relocation services rose in response to elevated fuel costs. Costs also climbed faster for residential rentals, hospitality venues, boarding houses, dental and veterinary care, footwear repairs and dry cleaning, according to the central bank. Prices for healthcare climbed 0.7%, household goods and appliances edged up 0.6%, and dining and accommodation costs advanced 1%. Costs in the leisure and cultural sectors held steady. Schooling-related expenses climbed 0.2 per cent over the month and 14.6 per cent compared with the same period a year ago. Lepushynskyi had noted earlier that inflation might persist above the NBU's 5% target for a prolonged timeframe.
