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Annual inflation in Ukraine accelerated to 11% in October 2026, and compared to September, consumer prices increased by 1.8%. This was reported by the National Bank of Ukraine with reference to the data of the State Statistics Service.
That pushed prices up
The National Bank names two main drivers of price increases. Firstly, fuel prices have increased - motor fuel traditionally entails the cost of transportation and, accordingly, of almost all goods on the counters. Second, the consequences of the destruction of production and logistics infrastructure due to Russian shelling are further noted: damaged production facilities and disrupted logistics limit the supply of goods and services, and shortages traditionally push prices up.
For Ukrainians, the acceleration of inflation means, first of all, faster devaluation of hryvnia savings. If the money just sits in an account or at home, its real purchasing power decreases the faster the rate of price growth. Therefore, the issue of protecting money from inflation - deposits with a profitable rate, currency diversification or other instruments - is becoming more and more relevant for households.
Acceleration of inflation also affects the regulator's monetary policy: with high inflation risks, the NBU has less room to soften the discount rate, and accordingly - to make loans for businesses and households cheaper. At the same time, for the hryvnia, consistently high inflation means additional pressure towards a gradual devaluation on the foreign exchange market.
Read more about how to protect your savings from rising prices in the article Inflation and hryvnia: how to protect savings from depreciation.
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