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Core inflation rate

last update: 09.09.2025 16:30

The core inflation rate, or, equivalently, the core consumer price index — an indicator characterizing the level of inflation, which is formed under the influence of purely monetary conditions. Being one of the components of the consumer price index, it excludes short-term uneven price changes under the influence of factors that are administrative, event-driven or seasonal in nature.

Core inflation rate in Ukraine in August 2025 was 100,5 %

Summary table of core inflation rates of Ukraine from 2011 to 2025  (%)

JanFebMarAprMayJunJulAugSepOctNovDecPer year
2011100,3100,6100,8100,6100,6100,6100,5100,8100,8100,6100,3100,2106,9
2012100,0100,1100,1100,0100,1100,1100,0100,0100,1100,1100,1100,1100,8
201399,999,9100,099,9100,0100,0100,0100,0100,1100,1100,1100,1100,1
201499,999,8102,1102,8102,3101,4100,8101,2102,7102,7102,3102,8122,8
2015102,6105,4110,8104,6101,9100,499,9100,2103,0100,8100,7100,4134,7
2016100,0100,4101,9100,6100,299,999,699,7102,0100,9100,5100,0105,8
2017100,4100,7101,7100,6100,3100,2100,1100,2101,9101,2101,0100,8109,5
2018100,7100,6101,4100,6100,2100,099,9100,1101,9101,3101,1100,6108,7
2019100,3100,2101,2100,4100,2100,099,999,9101,2100,7100,199,7103,9
202099,899,9101,3100,4100,1100,099,9100,1101,1100,8100,7100,3104,5
2021100,3100,5101,6100,7100,7100,499,9100,0101,3101,0100,8100,4107,9
2022100,1101,0103,8103,0101,4101,6101,2102,1102,4101,9101,3100,8122,6
2023100,7100,5101,3100,5100,399,9100,0100,0100,9100,4100,3100,0104,9
2024100,4100,4101,0100,7100,3100,5100,7100,7101,7101,3101,2101,3110,7
2025101,3100,7101,4100,4100,5100,3100,3100,5



105,5
  • the index values are given as a percentage relative to the previous month
Summary table of core inflation rates of Ukraine in recent years (%)

201420152016201720182019202020212022202320242025
Jan99,9102,6100,0100,4100,7100,399,8100,3100,1100,7100,4101,3
Feb99,8105,4100,4100,7100,6100,299,9100,5101,0100,5100,4100,7
Mar102,1110,8101,9101,7101,4101,2101,3101,6103,8101,3101,0101,4
Apr102,8104,6100,6100,6100,6100,4100,4100,7103,0100,5100,7100,4
May102,3101,9100,2100,3100,2100,2100,1100,7101,4100,3100,3100,5
Jun101,4100,499,9100,2100,0100,0100,0100,4101,699,9100,5100,3
Jul100,899,999,6100,199,999,999,999,9101,2100,0100,7100,3
Aug101,2100,299,7100,2100,199,9100,1100,0102,1100,0100,7100,5
Sep102,7103,0102,0101,9101,9101,2101,1101,3102,4100,9101,7
Oct102,7100,8100,9101,2101,3100,7100,8101,0101,9100,4101,3
Nov102,3100,7100,5101,0101,1100,1100,7100,8101,3100,3101,2
Dec102,8100,4100,0100,8100,699,7100,3100,4100,8100,0101,3
Per year122,8134,7105,8109,5108,7103,9104,5107,9122,6104,9110,7105,5
  • the index values are given as a percentage relative to the previous month

The core consumer price index, as already mentioned, is a subindex of the general or composite consumer price index. Core inflation rate is calculated based on a set of consumer goods and services used to calculate the overall inflation index, with the exception of certain product groups and services whose prices are characterized by excessive volatility or, conversely, excessive administration. In Ukraine, this most excluded set of goods and services is determined by peer review by certain experts in the field (i.e., arbitrarily:)

It should be noted that other mathematical methods can be used to calculate the core inflation rate, such as floating or truncated average, exponential smoothing, etc. But, according to Derzhstat, the method of excluding a constant set of goods/services is one of the most traditional in world practice, therefore It was he who was chosen.

Additionally, we present a global graph with the dynamics of changes in inflation indices in Ukraine in recent years (cumulative):

01.201501.201601.201701.201801.201901.202001.202101.202201.202301.202401.2025 50100150200250300350400450 % InflationCore inflation

As we can see, starting from the 2nd quarter of 2015, the final general inflation index began to gradually overtake the base inflation index.

Core inflation by years
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