Lovochkin: Another Inflation Climb Will Hit Standards of Living for Ukrainians
Despite numerous warnings by the political opposition, the government is taking no real measures to control prices for basic goods and services. According to OPPOSITION PLATFORM – FOR LIFE MP Serhiy Lovochkin, the Cabinet is the one responsible for another surge in inflation, which is now reaching a two-digit figure year on year.
“The price grew by 1.3 percent in May, which is yet another evidence of the crisis the government has forced the population into. The inflation is increasing rapidly, and the economy continues being in crisis, which altogether is a recipe for poverty. On the year-on-year basis, the prices have increased by 9.5 percent, which was 8.4 percent last month. Each percent of the inflation stands for money stolen from the Ukrainians by the state. The most vulnerable categories of the population, including retirees, disabled persons, and other disadvantaged groups are the ones who suffer the most from the Cabinet’s inactivity,” Lovochkin said.
The politician cited the data on goods and services that grew up in price the most and noted these are the most demanded products for everyone, including the poorest. The sunflower oil rose in price by 75.2 percent since 2020, sugar by 67.2 percent, eggs by 34.4 percent, bread by 16.6 percent, utilities by 35.3 percent (with electricity rising in price by 36.6 percent, and natural gas by 161.6 percent!).
“Such price increase leads to even deeper poverty. The cost of living was planned to increase by 9.3 percent in 2021, and inflation has reached 6.1 percent since early January, which means the government has almost fulfilled its planned annual ‘norm’ of 7.3 percent over these five months,” Lovochkin added.
The MP believes the parliament must take the lead and make decisions that will stop the price growth and impoverishment of the population.
“No window-dressing like memorandums will solve the problem. We need large-scale solutions on decreasing the VAT for social foods and lowering the utility fees for population. Our faction has proposals ready for these matters which could be passed quickly in the parliament and stop the crisis,” Lovochkin said.