Industrial goods price growth said to have quadrupled in 2021

12 January 2022, 02:29 PM

Prices for industrial goods grew by 62.5 percent year-over-year  in 2021, four time faster than the 2020 growth rate, the State Statistics Service of Ukraine said in a report on Jan. 11.

The inflation rate for industrial goods in 2020 stood at 14.5 percent; for 2019 – at 7.4 percent; for 2018 – at 14.2 percent; for 2017 – at 16.5 percent; for 2016 – at 35.7 percent; and for 2015 – at 25.4 percent, the service stated.

Denominated in UAH, industrial goods were 74.5 percent more expensive in December 2021 compared to December 2020; while industrial price inflation rate for exports settled at 24.5 percent for 2021.

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On a sector-by-sector basis, inflation rates for industrial goods in 2021 are:

Mining – 56.5 percent

Coal mining – 150 percent

Oil and natural gas extraction – 79.6 percent

Ore mining – 5.4 percent

Refining and manufacturing – 28.1 percent

Chemical industry – 70.8 percent

Metallurgy – 41.9 percent

Intermediate industrial goods – 33.8 percent

Lumber – 25 percent

Plastics and rubber – 22.4 percent

Mechanical engineering – 16.3 percent

Durable goods – 19 percent

Non-durable goods – 15.9 percent

Pharmaceutics – 14.1 percent

Transportation of electricity, natural gas, compressed air – 180 percent

Energy production – 160 percent

Petroleum products – 110 percent

Meanwhile, the annual consumer price index inflation for 2021 settled at 10 percent.

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