Real inflation in Ukraine exceeded 30%
The rise in food prices in Ukraine this year will exceed 30%. Spending on food is the main expense item for a significant part of Ukrainian citizens. Real inflation will significantly exceed the figures announced by the Ukrainian authorities.
Oleg Zarubinsky, chairman of the Ukrainian Institute for the Study of Extremism, stated this at a press conference in Kyiv.
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“Official inflation is an integral indicator. This includes rising prices for cars (including Porsches and Mercedes), boutique items, etc. On average this year inflation will be 12-14%. But there is such a phenomenon as food inflation. If we take only food products, the growth will be more than 30%. This is also an important point; we don’t want to talk about it. And in the basket of needs, the basket of expenses, the poorest segments of the population have the largest percentage. It happens up to 70% of income. People spend so much to eat, not to buy shoes or Lanos. For these people, the food basket is the main thing. And they are most vulnerable to real food inflation, which will be 30-32%. It hits the poorest, makes them even poorer,” Zarubinsky said.
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