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Inflation calculator - what past years' money is worth today

Enter an amount and two months - the calculator instantly shows what that amount is "worth" in another period's prices, based on the official Consumer Price Index (CPI) from the State Statistics Service of Ukraine since 2010.

amount in hryvnias as of the "from" month
From (month and year)
To (month and year)

Result

4,082.96 грн

1,000.00 UAH in January 2015 is 4,082.96 UAH in September 2026

Cumulative inflation over the period+308.30 %
Purchasing power of the same amount today244.92 грн
Average annual inflation rate over the period12.82 %

if you kept this money under the mattress instead of investing it, this is what it's worth in today's prices

geometric mean of annual rates over the whole selected period

Based on data from the State Statistics Service of Ukraine (CPI). Latest available month: September 2026.

The calculation is based on the official Consumer Price Index (CPI) from the State Statistics Service of Ukraine - the average "consumer basket" for the whole country. Inflation for a specific person or category of goods (food, housing, fuel) can differ significantly from the average.

What the CPI is and how cumulative inflation is calculated

The Consumer Price Index (CPI) is the official metric from the State Statistics Service of Ukraine that records, every month, how much prices changed on average for a typical "consumer basket" of goods and services. The index is published as "% versus the previous month": for example, 100.8% means prices rose 0.8% in a month, while 99.5% means prices fell (deflation) by 0.5%.

To calculate cumulative inflation over several months or years, the monthly indices are not added but multiplied (each expressed as a factor, i.e. divided by 100). For example, inflation over a year with indices of 101% and 102% for two consecutive months gives a factor of 1.01 × 1.02 = 1.0302, i.e. cumulative growth of 3.02% over two months - slightly more than the simple sum of 1%+2%=3%, due to "interest on interest".

The calculator computes the price growth factor between two chosen months as the product of all monthly CPIs within that period. An amount that was relevant in the first month, multiplied by this factor, shows the equivalent amount in the second month's prices - this is exactly the answer to "what are old hryvnias worth today".

1,000.00 UAH in January 2015 is 4,082.96 UAH in September 2026 (cumulative inflation over the period: +308.3%).

Annual inflation in Ukraine by year

YearInflation for the year (December to December)
2010+9.1 %
2011+4.6 %
2012-0.2 %
2013+0.5 %
2014+24.9 %
2015+43.3 %
2016+12.4 %
2017+13.7 %
2018+9.8 %
2019+4.1 %
2020+5.0 %
2021+10.0 %
2022+26.6 %
2023+5.1 %
2024+12.0 %
2025+8.0 %

How to protect your money from inflation

Inflation erodes money that just sits idle - cash or a non-interest-bearing card balance. To at least partly offset this devaluation, money is usually placed on a bank deposit or in OVDP bonds (domestic government loan bonds) - these accrue interest that, ideally, covers inflation and provides extra income on top.

OVDP bonds have an advantage: individual income from them is tax-free, while deposit income loses 23% to tax (personal income tax and the military levy). Compare which is more profitable for your specific amount and term in the deposit and OVDP calculators below.

Everything about calculating inflation in Ukraine

Inflation has been a constant companion of the hryvnia since the 2010s, with especially sharp spikes in 2014-2015 (devaluation and the start of the war in Donbas) and in 2022 (the full-scale invasion). The calculator lets you work out how many times a specific amount of money has been devalued over any period since 2010, based on official State Statistics Service data.

Why the calculation uses the official CPI

The CPI is the single official, regularly updated inflation metric in Ukraine, with a transparent and standardized methodology (aligned with IMF and Eurostat recommendations). Banks, the National Bank of Ukraine, and the government all use the State Statistics Service's CPI to index wages, review the key policy rate, and make other decisions, making it the most "official" measure of price change available for verification.

The biggest inflation spikes in modern Ukraine's history

The two most notable periods of accelerating inflation are 2014-2015 (hryvnia devaluation after the start of the war in Donbas, with annual inflation reaching 143.3% in 2015 - prices rose more than 1.4 times in a year) and 2022-2023 (the full-scale invasion, with 2022 inflation at 126.6%). In calmer periods, such as 2012-2013 or 2019-2021, annual inflation stayed within 4-10%.

Frequently asked questions about the inflation calculator

What is the CPI (Consumer Price Index)
The CPI is the official State Statistics Service of Ukraine metric that measures, every month, how much prices changed on average for a typical basket of goods and services people buy: food, clothing, utilities, transport, medicine, and so on. A value of 100.8% means prices rose by 0.8% on average over the month.
How is cumulative inflation over several years calculated
Inflation over several months or years is not added up but multiplied: if prices rose 10% in year one (a factor of 1.10) and another 5% in year two (a factor of 1.05), then over the two years combined prices did not rise by 15% but by 1.10 × 1.05 = 1.155, i.e. 15.5%. The calculator multiplies the monthly CPIs this way over the whole selected period.
Why is the figure different for periods of the same length
Inflation is uneven over time - some months and years see sharp price jumps (for example 2015 or 2022), while others see almost no change (2012-2013 or 2019). So cumulative inflation for, say, 2010-2015 and for 2019-2024 will be quite different, even though both are 5-year spans.
What does "purchasing power" mean
It is the same nominal amount of money converted into the "weight" of today's prices. If 1,000 UAH from 2015 has a purchasing power of about 245 UAH today, it means that if that old 1,000 UAH just sat unused, today it buys the same amount of goods you could previously buy for 245 UAH.
Does the calculator account for food, housing or fuel inflation separately
No, the calculator uses the overall (headline) CPI - the average across the whole consumer basket. Prices for specific categories (for example utilities or fuel) often rise faster or slower than the average, so the real change for a specific spending category may differ from the calculator result.
Where does the State Statistics Service publish official CPI data
The State Statistics Service of Ukraine (ukrstat.gov.ua) publishes the Consumer Price Index every month, roughly on the 9th-10th of the following month. The same data is duplicated in orders published on zakon.rada.gov.ua and is used, among other things, to index wages and social payments.
Why doesn't the calculator cover future months of the current year
The State Statistics Service only publishes the CPI for months that have already passed, and only once price data collection and processing is complete. So the calculator is limited to the latest officially published month - it does not attempt to forecast future inflation.
Sources

Author and editorial team: Finansist · About us

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