In Ukraine, prices for bread of mass varieties will remain under control until the end of 2024. This was stated by Oleg Pendzyn, a member of the Economic Discussion Club. According to his forecast, the price increase will not exceed 1.5-2%, even under the worst scenario.
Even in 2022, during the active phase of hostilities, when inflation reached 27%, bread prices increased by 20%, which became a record. In recent years, the rate of increase in the price of bread has slowed down considerably, remaining within the range of 1-1.5% every year. In 2024, the annual price increase may reach a maximum of 15-16%.
"I am absolutely sure that there will be no significant increase in prices until December," Pendzyn assured.
The increase in bread prices is associated with a number of economic and production factors:
- Rising prices of raw materials . Flour prices have doubled due to restrictions on the supply of grain on the domestic market.
- The cost of energy carriers . The increase in gas and electricity tariffs affected production costs.
- Salary of employees . Inflation forces manufacturers to raise wages to retain skilled workers.
- Logistics . The increase in the cost of fuel and transport services makes transportation more expensive.
Despite the objective factors contributing to the increase in the cost of production, Ukrainians should not be afraid of a rapid increase in the price of bread. Thanks to the stabilization of the economy and control over inflation, manufacturers are able to keep prices within the projected range of 15-16% per year.
