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In 2024, prices in the food and beverage industry in Ukraine increased by 21%, with milk (+24%) and meat (+17.6%) rising the most.
Product price increases: key indicators
According to the statistics agency, prices in the production of food, beverages and tobacco products rose by 21%. Domestically, the increase was 18.6%, and for exports, it was 32%.
The highest price increases were recorded in dairy production – by 24% (23.1% domestically) and meat production – by 17.6% (18.3% domestically).
Production of bread and flour products increased by 13.1%, while prices for beverages rose by 5.9% (5.7% within Ukraine).
A unique case was the decline in sugar production prices – by 1.5%, although sugar prices in Ukraine still rose by 0.1%.
Inflation and shop prices
Annual inflation in Ukraine was 12% in December 2024, according to the State Statistics Service. Food and non-alcoholic beverages went up by 14.1% over the year.
However, globally, according to the UN, food prices in December 2024 decreased by 6.7% compared to December 2023.
How will this affect consumers?
Producer prices are usually passed on to end consumers with a delay of several months. As such, the increase in production costs could be felt by consumers as early as early 2025.
Rising prices for basic products such as milk, meat and bread are putting more pressure on Ukrainian families’ budgets, especially against the backdrop of high inflation.
