Ministry of Economic Development: "Easter cake index" in Ukraine has risen by a third

On Easter holidays, the team of analysts of the Ministry of Economic Development and Trade of Ukraine decided for the second time in a row to investigate the dynamics of the cost of baking Easter cake in 2017 compared to 2016, writes the Ministry on its Facebook page.

The study reveals that home-made Easter cake costs 29.81 UAH, which is 35.3% more expensive than in 2016. Prices for almost all ingredients have increased. Most of all, butter has risen in price by 34%. It also influenced the growth of the final cost of the home cake, since the share of butter is about 30%. "Sugar powder, in turn, continues to show signs of remarkable stability – for three consecutive years it costs 40 UAH per kilogram," experts said.

According to the consensus forecast of the Ministry of Economic Development, inflation in 2017 will remain at the level of 11% (December 2017 compared to December 2016).

The "Easter cake index" is not an official macroeconomic indicator and does not reflect inflation or the consumer price index. All calculations are approximate, based on DSS monitoring of prices for socially important goods and expert assessment of the Ministry of Economic Development.