And you thought we had inflation …

For the first time in 10 years Ukraine finished the year with deflation.

As of the end of 2012, the State Statistics Service recorded decrease of prices in the country. Primarily – due to cheaper food products.

Ukraine finished 2012 with a deflation of 0.2%. Decline in consumer prices for the year was recorded for the first time since 2002 (then the deflation was 0.6%).

According to the State Statistics Service, deflation in Ukraine for 12 months in 2012 (December 2011 to December 2012) was 0.2%. In December, compared with November, the consumer price index (CPI) was 100.2%.

Compared with January 2012, in December the consumer price index for food and non-alcoholic beverages fell overall by 2.5%. Prices for bread and bread products fell by 0.1%, for milk, cheese, eggs – by 5.8%, for sunflower oil and fats – by 0.3%, for fruits – by 4.5%, for vegetables – by 26.1%, for sugar – by 14.4%.

The prices for meat and meat products increased by 1.1%, non-alcoholic beverages rose by 3.8%.

Prices of alcoholic beverages and tobacco products increased by 6.3%. Prices for clothing and footwear fell by 1.7%.

Prices for housing, water, electricity, gas and other fuels rose by 0.2%. Also, transport costs rose by 3.9%, and communications costs – by 1.4%.

In 2011 inflation in Ukraine was 4.6% compared with 2010.

Source: ZN.UA