Ukraine’s economy on 12 November: 11% inflation, EU support and changes for businesses

As of the morning of 12 November 2026. A review of the latest confirmed reports.

Prices in Ukraine continue to rise, while Russian strikes on infrastructure make it harder for the economy to function. Meanwhile, a new EU tranche has reached the budget, and parliament has adopted changes to simplify VAT administration. Here are the main points for families and entrepreneurs.

Prices: up 11% over the year

According to figures released by Ukraine’s State Statistics Service on 10 November, consumer prices in October 2026 rose:

  • by 1.8% over the month — compared with September;
  • by 11.0% over the year — compared with October 2025.

This is an overall measure for the consumer basket: individual goods and services increased in price at different rates.

In its commentary of 11 November, the National Bank of Ukraine (NBU) identified rising fuel prices and the destruction of logistics infrastructure among the main sources of price pressure. These affect the cost of both food and non-food goods.

What the National Bank forecasts

In the forecast published on 6 November, the NBU expects:

  • inflation of 12.5% at the end of 2026, slowing to 7.3% at the end of 2027;
  • a 0.4% contraction in real GDP in 2026, followed by 0.4% growth in 2027.

These are forecasts. They take account of the impact of Russian attacks and rest, among other things, on assumptions that the necessary international support will continue and logistics will improve.

The EU transferred €3.7 billion to the budget

On 5 November, the Ministry of Finance reported the receipt of €3.7 billion under the Ukraine Support Loan. The funds are intended for priority budget expenditure, the stable operation of state institutions and support for financial resilience.

VAT changes: what parliament adopted

On 11 November, parliament passed bill №16037-д in its entirety. It provides for pre-filled returns and tax invoices, as well as a choice of monthly or quarterly reporting periods for individual entrepreneurs registered for VAT.

According to the Ministry of Finance, entry into force requires the President’s signature and official publication; separate implementation dates apply to some provisions. Entrepreneurs should check when the specific rules affecting them take effect.

What this means in everyday life

Our conclusion from these reports: rising prices make it harder for families to plan spending, while businesses have to factor in more expensive fuel and deliveries. European funding supports the budget, and the planned VAT changes are intended to simplify some reporting once they enter into force.

What is putting the most pressure on your budget right now — food, transport or electricity costs? Share in the comments.

Illustrative photo: NBU; source — RBC-Ukraine.

Tags:

#ukraine #economy #inflation #business #eu #ukrainenews #koloplus

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