In 2024, the cost of the consumer basket in Ukraine increased by 15%, which was a tangible blow to many Ukrainian countries. Dairy products, vegetables and fruits rose the most, while bread and meat showed relative stability.
The biggest price changes
According to the Fora supermarket chain, dairy products rose the most: butter – up to 30%, dairy products – up to 18%, and cheeses – up to 19%. Vegetables and fruits, which suffered from crop failures due to adverse weather conditions, rose in price by 35%.
More moderate growth was observed in the categories of cereals, flour, sugar, eggs and meat - from 3 to 10%. At the same time, bakery products rose in price by up to 10%, and meat prices increased by 6-10%.
Reasons for price increase
The main reasons for price increase were:
- Low yield due to late frosts and summer heat.
- Rising costs for logistics, storage and electricity.
- The impact of hostilities, which led to the loss of sown areas and storage resources.
- Exchange rate fluctuations and inflationary pressure.
Due to rising prices, Ukrainians are increasingly choosing cheaper analogues of familiar products. Consumers are switching to less well-known brands, including private labels (PTLs) of supermarket chains. They are also actively purchasing promotional goods and long-life products.
Experts from the Fora network note that price stabilization should not be expected in the coming months. The main factors influencing growth remain relevant, in particular: logistics costs, warehousing and energy resources. The situation may begin to improve only after the new harvest in 2025.
2024 was a difficult year for the Ukrainian consumer: rising prices for basic food products, especially dairy products, vegetables and fruits, prompted citizens to look for more profitable offers. However, given the unstable economic situation, Ukrainians will have to adapt significantly to new realities in the near future.
