Four years of war: how prices, tariffs, salaries, and exchange rates have changed in Ukraine

Four years of full-scale war have significantly changed Ukraine's economy: prices, exchange rates, and public debt have risen. Find out how salaries, tariffs, pensions, and the cost of basic products have changed from 2022 to 2026

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Four years of full-scale war have had a significant impact on Ukraine's economy and the daily lives of its citizens. Despite rising wages and pensions, basic foodstuffs, fuel, electricity, and foreign currency have become significantly more expensive. The publication Slovo i Dilo reports on the key economic changes.

Macroeconomics over four years: GDP, public debt, and reserves

Ukraine's nominal GDP has grown by 64.3% over four years, from UAH 5 trillion 459.6 billion in 2021 to UAH 8 trillion 967.4 billion, as projected in the 2026 state budget.

At the same time, public debt grew by 238.4% — to UAH 9 trillion 042.68 billion at the end of 2025, compared to UAH 2 trillion 672 billion at the end of 2021.

Gold and foreign exchange reserves increased by 98.2% thanks to international financial support: from $29.09 billion in January 2022 to $57.67 billion in January 2026.

Inflation

Inflation rates have varied over the years of the war:

● 2021 — 10%;

● 2022 — 26.6%;

● 2023 — 5.1%;

● 2024 — 12%;

● 2025 — 8%.

After a sharp spike in 2022, inflation gradually stabilized, although prices continued to rise.

Hryvnia exchange rate: dollar, euro, and zloty

Before the full-scale invasion began, the dollar exchange rate was 28.89 UAH. As of February 25, 2026, it was 43.2 UAH, which is 49.4% higher.

The euro rose from 32.9 UAH to 50.9 UAH (+55%). The Polish zloty rose by 67% — from 7.23 UAH to 12.09 UAH.

The weakening of the hryvnia affected both imported goods and the expenses of Ukrainians who are or plan to stay abroad. In such conditions, it is especially important to take care of financial security in advance — in particular, to take out medical insurance for traveling abroad. This allows you to avoid additional costs in case of treatment in another country and minimize currency risks.

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Utility rates: what has changed and what has remained unchanged

A moratorium continues to apply to most utility rates. From 2022 to 2026, the cost has not changed for:

● gas — 7.96 UAH per cubic meter;

● cold water — 16.16 UAH per cubic meter;

● hot water — 97.89 UAH per cubic meter;

● water disposal — UAH 14.22 per cubic meter;

● heating — UAH 1,654.41 per Gcal.

At the same time, the electricity tariff for household consumers increased by 200% — from UAH 1.44/kWh in February 2022 to UAH 4.32.

Taxes and social indicators

The personal income tax rate remained at 18%. The minimum social security contribution increased by 33%, and the maximum by 77.4%.

Salaries and pensions

The average salary in Ukraine increased by 77.2% to UAH 30,926 as of December 2025. The minimum wage increased by 33% to UAH 8,647 (compared to UAH 6,500 in February 2022). The minimum pension increased by 34.2% to UAH 2,595 (compared to UAH 1,934).

The salary of a contract soldier on the front line increased more than fourfold to UAH 120,000, which is 341.1% more than before the full-scale war.

Unemployment

The number of registered unemployed fell by 70.1% to 88,300 at the end of 2025. At the same time, the statistics may not reflect the full picture due to significant population migration.

Consumer prices: how food and fuel have risen in price

Over four years, almost all basic products have become more expensive:

● loaf of bread — +71.2%;

● wheat bread — +81.7%;

● milk — +72.7%;

● pork — +85.7%;

● lard — +106.7%;

● eggs — +86.9%;

● sugar — +8.4%;

● potatoes — +67%;

● sunflower oil — +43.9%.

Among basic products, the price of buckwheat has remained almost unchanged.

Fuel:

● A-95 gasoline — 59.28 UAH (+88.5%);

● diesel — 58.91 UAH (+94.3%);

● autogas — 38.05 UAH (+100%).

We remind you! The cost of renting housing in Ukraine varies significantly depending on the region, from 3,200 hryvnia in Kherson to 13,700 in Zakarpattia. The security situation and income levels create a significant price gap between western, central, and frontline regions. Read more about apartment rental costs and average salaries in each region of Ukraine.

Photo: aminamangush33303 / freepik

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