As of December 2025, inflation has decreased to 8%, and the National Bank of Ukraine expects it to drop to 7.5% by the end of 2026.

This information is detailed in the NBU's inflation report for January.

In recent months, the inflation rate has been declining primarily due to improved harvests and reduced pressure in the labor market. While it stood at 11.9% in September 2025, it fell to 8% in December and continued to decrease in January.

"However, the significant destruction in the energy sector will continue to exert pressure on prices through both market and administrative mechanisms. These factors, combined with the effects of a low comparison base, may lead to a moderate acceleration of inflation in the second half of the year.

Therefore, for 2026, inflation is expected to moderately decrease to 7.5%." – reports the NBU.

The NBU also anticipates that inflation will slow to 6% in 2027 and reach the target of 5% in the second half of 2028.

This forecast is linked to a reduction in energy deficits, decreased external price pressures, and further increases in harvests, along with improvements in the labor market.