New Year’s Feast to Cost More: Inflation Bites as Ukraine Prepares to Celebrate Despite Russian Aggression
(Kyiv) –– As Ukrainians prepare to celebrate the New Year, a time of hope and resilience, the cost of the traditional festive table is set to rise by 15-17% compared to last year. This increase, driven by ongoing economic pressures, comes despite the continued struggle against Russian aggression.
Oleh Pendzyn, Executive Director of the Economic Discussion Club, informed UNN that the price hike is already evident, with the final figures expected to be clearer after 15th December. Mr. Pendzyn specifically warned of significant price increases for smoked meats, fish, and dairy products in the run-up to the holidays.
This news comes after previous reports of rising prices for essential food items throughout the year. As reported by The Daily Handle® on 2nd December, prices for bread, vegetables, meat, and other staples have continued to climb. The cost of a “borscht set” – a staple of Ukrainian cuisine – has reportedly increased by a staggering 2.5 times. Bread prices alone are expected to have risen by 10% by the end of the year.
The following table compares the projected cost increase of the New Year’s table:
| Year | Projected Cost Increase |
|---|---|
| 2024 | 15-17% |
This inflation adds another layer of difficulty for Ukrainians who have already endured so much hardship due to the ongoing war. While the desire to celebrate and maintain traditions remains strong, the rising cost of living is a stark reminder of the economic consequences of Russian aggression.
In 2023, researchers at the Institute of Agrarian Economics calculated the cost of the 2024 New Year’s table at 2879 hryvnias, based on average supermarket prices in early December 2023. This figure provides a baseline against which to measure the impact of this year’s price increases.
Despite these economic challenges, Ukrainians are determined to celebrate the New Year.
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