UAC predicts rise in food prices by 10-15% in autumn

KYIV. Aug 22 (Interfax-Ukraine) – In Ukraine, with the start of the Russian military invasion, food prices rose by at least 20%, and in late autumn they will rise by another 10-15% due to the inflationary weakening of the hryvnia, disruption of supply chains, rising fuel prices, energy and storage costs.

The corresponding forecast was announced by Deputy Head of the Ukrainian Agri Council (UAC) Denys Marchuk during the broadcast at the Ukraine Media Center.

"Now is August, the vegetable harvest season, so we are seeing a decrease in prices due to an increase in supply. Potatoes, cucumbers, tomatoes and other vegetables have fallen in price, and the seasonal factor will last until October. Considering that a certain number of Ukrainians went abroad, this also contributed to a decrease in prices for seasonal vegetables. But in the autumn, the cost of storing vegetables will increase, so we should expect a 10-15% increase in prices for all groups after October," Marchuk said during his speech.

The UAC deputy head recalls that the population of Ukraine spends more than half of its income on food, which has risen in price by at least 20% since the beginning of the war due to inflation, disruption of food supply chains, rising prices for fuel, energy and storage costs.