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Inflation has hit popular products: what is happening to prices in Ukraine

Food prices have risen significantly in Ukraine.

According to the State Statistics Service, prices increased by 10.8% in 2021. This mainly affected butter, eggs and sugar, but other goods did not bypass, Khronika.info reports with reference to Channel 24.

Why food products have risen in price in Ukraine and will their prices rise in Lyubomyr Shavalyuk, an economic analyst, said this year.

Seasonality and inflation acceleration

According to Lubomyr Shavalyuk,  price growth is due to two factors. The first is  seasonality. With the advent of winter, daylight hours are reduced, colds set in, so in order to obtain, for example, the same number of eggs as before, it is necessary to heat and light the poultry farms. This automatically increases the cost of egg production.

And when you take into account the fact that energy prices, especially natural gas, are breaking records this winter, such an increase in the price of eggs can be called even moderate. The same goes for vegetables: their storage requires maintaining a certain temperature in warehouses. And since December was quite cold this time, on some days some warehouses needed to be heated,
— Shavalyuk explained.

An economic analyst said that  acceleration of inflation in the world is the second factor, which affects the cost of products. According to him, in Ukraine and the world, prices are rising due to the record amounts of money printed to combat the economic consequences of the COVID-19 pandemic.

To a greater or lesser extent, it applies to all items included in the consumer package, according to which the change in the price level is calculated,
he noted.

Rising prices for sugar and sunflower oilis due to the trend of rising prices for commodities in the world. It so happened that butter and sugar were among those positions that rose in price the most in the world over the year, because their high demand was associated with certain restrictions on the supply side.

Rising prices as an economic impact of COVID-19

According to tradingeconomics.com, over the two years of the coronavirus pandemic, the balance sheets of only eight central banks that issue world reserve currencies have grown over $12 trillion, or 56%.

According to the specialist, the global commodity price index calculated by the IMF has increased by 53% since December 2019, with food prices up by 33%, and energy prices by an average of 49%. This trend is gradually reaching Ukraine and is manifested in the rise in prices for almost everything.

With the end of winter, the seasonality factor will no longer play its inherent role, and in the summer, prices for a number of items should apparently be expected to decline, as is usually the case. However, with regard to the factor of global inflation, it must be said that while money is being printed (and they will be printed at least until March), a radical slowdown in inflation in a broad manifestation should not be expected,
— the analyst predicted.

What products fell and rose in price at the end of 2021

According to the State Statistics Service, in the consumer market in December 2021, prices for food and non-alcoholic beverages increased by 1.2%. At the same time, prices for eggs and vegetables rose by 10.0% and 9.1%. Prices for butter, «milk», cereal products, rice, bread, beef, pasta soared in price by 3.0 — 1.3%.

The State Statistics Service also clarified what exactly in December, prices for fruits, sugar, sunflower oil, and poultry meat fell by 3.9-0.6%. Reduction in prices for certain food products is now the exception rather than the rule, Shavalyuk is sure.

There are reasons for each position. For example, fruit prices have fallen because their calculation is dominated by the market value of apples, which, due to the huge harvest, have fallen in price by almost a third over the year.

Pay attention! According to the State Statistics Service, in December 2020, a kilogram of applescost 18.21 hryvnia, and in November 2021 — UAH 13.09.

Sugar and sunflower oil prices declined as they set records a few months earlier, up 50% to 60% year-over-year, and have now pulled back somewhat on the introduction of a new crop,
Lubomyr Shavalyuk stressed.

Cheaper poultry meat also cannot be called a sustainable trend, because during the year it has steadily grown in price and, as a result, is now a quarter more expensive than a year ago. The specialist also suggested that the decline in prices for fruits, sugar, sunflower oil and poultry meat would be temporary, and they will begin to rise in price along with all other products no later than until the end of winter and will continue to rise in price until the world's leading central banks stop printing money.

How much on average did the prices of products rise in 2021:

  • Kilogram rice price increased by UAH 4.81 (December 2020 — UAH 23.93, December 2021 — UAH 28.74);
  • Baton (500 grams) has risen in price by 3.13 hryvnia (December 2020 — 14.75 hryvnia, December 2021 — 17.88 hryvnia);
  • Kilogram wheat flour  increased in price by 2.31 hryvnia (December 2020 — 12.7 hryvnia, December 2021 — 15.01 hryvnia);
  • < li>A dozen eggs increased in price by UAH 6.31 (December 2020 — UAH 27.48, December 2021 — UAH 33.79);

  • Liter sunflower oil  price increased by UAH 19.36 (December 2020 — UAH 42.07, December 2021 — UAH 61.43);
  • Kilogram chicken fillet  increased by UAH 25.39 (December 2020 — UAH 91.71, December 2021 — UAH 117.1);
  • Kilogram beef increased by UAH 38.02 (December 2020 — UAH 144.82, December 2021 — UAH 182.84);
  • Kilogram pork — by 7, 89 hryvnia (December 2020 — 115.86 hryvnia, December 2021 — 123.75 hryvnia); 2020 — 78.95 hryvnia, December 2021 — 99.41 hryvnia); th — UAH 80.97, December 2021 — UAH 87.86);
  • A kilogram sugar price increased by UAH 6.62 (December 2020 — UAH 20.9, December 2021 — UAH 27.52);
  • Liter  >milk pasteurized with a fat content of up to 2.6% inclusive increased in price by 2.95 hryvnia (December 2020 — 25.6 hryvnia, December 2021 — 28.55 hryvnia).
  • Butter (200 grams) went up by UAH 6.12 (December 2020 — UAH 44.47, December 2021 — UAH 50.59);
  • Kilogram soft cheese fatty increased by 14.52 hryvnia (December 2020 — 111.46 hryvnia, December 2021 — 125.98 hryvnia);
  • Kilogram cabbage < /strong>white cabbage rose in price by 6.87 hryvnia (December 2020 — 4.76 hryvnia, December 2021 — 11.63 hryvnia);
  • Kilogram onion  price increased by UAH 6.97 (December 2020 — UAH 5.12, December 2021 — UAH 12.09);
  • Kilogram beets increased by UAH 7.95 (December 2020 — UAH 5.39, December 2021 — UAH 13.34);
  • Kilogram carrot price increased by 3, 98 hryvnia (December 2020 — 6 hryvnia, December 2021 — 9.98 hryvnia); th — 37.43 hryvnia, December 2021 — 47.77 hryvnia);
  • Kilogram pasta from soft varieties of wheat rose in price by 4.19 hryvnia (December 2020 — 20.17 hryvnia, December 2021 — 24.36 hryvnia);
  • Kilogram semolina
  • strong> price increased by UAH 2.27 (December 2020 — UAH 15.91, December 2021 — UAH 18.18);
  • Kilogram barley groats  price increased by UAH 2.82 (December 2020 — UAH 12.98, December 2021 — UAH 15.8);
  • Kilogram millet price rose by UAH 0.91 (December 2020 — UAH 12.98, December 2021 — UAH 15.8).

At the same time, on average for 2021, a kilogram of applesdropped in price by UAH 5.9. In December 2020, it cost UAH 18.21, and already in December 2021, it cost UAH 12.31. Over the past year, potato has also fallen in price. In December 2020, a kilogram could be purchased for 10.15 hryvnia, and already in December 2021 — 8.76 hryvnia.

The real cost of consumer goods in supermarkets in Kiev (as of January 14, 2022):

  • Baton (500 grams) brand «Tsar-bread» Niva stands in «ATB» UAH 14.40, in Novus – UAH 20.86, in «Megamarket» – 20.90 hryvnia, in «Silpo» – 21.99 hryvnia;
  • Kilogram buckwheat branded «The Smart Choice» stands in «ATB» 45.01 hryvnia, buckwheat from Novus — 41.99 hryvnia, in the & # 171; Megamarket & # 187; buckwheat from «Zernovita unground» — 68 hryvnia, in & # 171; Silpo & # 187; buckwheat from the same TM — 67.49 hryvnia; in «ATB» costs 220.99 hryvnia, in Novus chilled chicken fillet — 139 hryvnia, in & # 171; Megamarket & # 187; chicken fillet — 134 hryvnia, in & # 171; Silpo & # 187; chicken fillet (100 grams) — 13.90 hryvnia;
  • Kilogram herring Norven «Mathieu» salt-frozen in «ATB» costs 117.49 hryvnia, in Novus herring «Mathieu» – 129 hryvnias, in «Megamarket» herring «Mathieu» salted and frozen Veladis — 144.20 hryvnia, in & # 171; Silpo & # 187; herring fillet in oil (100 grams) — 10.90 hryvnia; in «ATB» costs 26.90 hryvnia, in Novus 900 grams — 29.99 hryvnia, in the & # 171; Megamarket & # 187; 900 grams — 29.30 hryvnia, in & # 171; Silpo & # 187; – 29.59 hryvnia;
  • A dozen chicken eggs from «Yasensvit» the first category are in «ATB» 36.23 hryvnia, in Novus — 45.69 hryvnia, in «Megamarket» – 43.20 hryvnia, in «Silpo» – 43.99 hryvnia;
  • Kilogram sugar from the brand «Smart choice» stands in «ATB» 25.40 hryvnia, Novus sugar — 36.39 hryvnia, in «Megamarket» weight sugar — 27.50 hryvnia, in & # 171; Silpo & # 187; white crystalline sugar – UAH 25.39

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