The National Bank reported that high price pressure in October was driven primarily by the further rise in fuel prices, as well as the destruction of logistics infrastructure, which put pressure on the prices of a wide range of food and non-food goods.
This is stated in the NBU's announcement, Ukrainski Novyny reports.
Fuel inflation rose to 53.9% year over year. Over the month, diesel fuel and autogas rose in price the most. Diesel fuel — as a result of rising world prices, complications with imports, and increased demand from generator owners. Autogas — as a result of reduced supply due to damage to gas filling stations, logistical import restrictions, and also due to the rise in price of propane and butane in Europe, caused by supply disruptions and seasonal growth in demand.
The growth in prices for raw food products slightly accelerated to 6.8% year-on-year. Vegetables for the borscht set became more expensive faster amid smaller harvests and higher storage costs, while sugar — in anticipation of a decline in production due to the reduction of sugar beet acreage to a 35-year minimum. The rise in banana prices accelerated due to the increased cost of imported logistics amid the blockade of seaports.
The reduction in price of chicken slowed down due to increased production costs as a result of power supply disruptions and the mass transition of poultry farms to diesel generators. Additionally, a labor shortage had an effect, leading to a reduction in production by some farms.
Instead, egg prices fell after a sharp increase in September. Cucumbers also became cheaper year-on-year against a high comparison base.
Earlier, the NBU reported how businesses use AI in their work.
Based on the results of two waves of the NBU survey in Q2 2025 and Q3 2026. The use of AI by Ukrainian enterprises is at an early stage but is noticeably accelerating: the share of enterprises already using AI grew from 13.1% to 23.4%; the share of those considering such a possibility — from 19.9% to 29.8%.