"Panicking" Ukrainians Face Soaring Prices, Warn "Inflation Is War"

Tyler Durden's picture

With Ukraine, according to President Poroshenko, on the verge of World War III, it appears the people of the divided nation face another all too familiar war... on their living standards. As Hyrvnia continues to collapse to record-er lows, Ukraine's Central Bank warns of further stress and FX (think USDollar or EUR) demand because the "population is in panic." With a 19.8% inflation rate last month and a 48% devaluation in the currency this year, Bloomberg reports the costs of imported goods from gasoline to fruit and from medicine to meat is soaring. One store-owner reflected that she "feels the hryvnia devaluation everywhere," and another noted "I can't imagine how people survive on a single pension. We can’t even go to the drug store. We try to use herbs instead." The Central bank expects inflation to keep rising (having previously peaked at 10,256% in 1993 as the Soviet economy was dismantled). "Inflation is the same as the war," warns one analyst, "it may lead to protests if people blame the authorities for failing to conduct proper policies."



As Bloomberg reports,

[Ukrainians] are cutting back because of this year’s 48 percent plunge in the hryvnia, a decline that’s eroded purchasing power. The inflation rate spiked to 19.8 percent last month as the currency’s slide boosted the costs of imported goods from gasoline to fruit.




Valentyna is thankful for the two pensions she and her husband share, even if Ukraine’s inflation shock means they’re no longer enough to buy medicine and meat.


“We have some potatoes, tomatoes and cucumbers from our dacha,” said the 72-year-old pensioner as she made her way through the city of Zhytomyr, a two-hour bus ride west of Kiev. “I can’t imagine how people survive on a single pension. We can’t even go to the drug store. We try to use herbs instead.”




“I watch the dollar rate all the time because for me it’s the best indicator of poverty,” said the 29-year-old mother of a son in first grade. “I buy less sweets and fruit because of the astronomical costs. We used to save some money. Now, we can’t save anything.”

It's gonna get worse...

Inflation will probably speed up to 25 percent this year, compared with the 19 percent forecast earlier, central bank Governor Valeriya Gontareva said today.


Ukrainians are no strangers to inflation. Price growth peaked at 10,256 percent in 1993 as the Soviet economy was dismantled. Having subsided, the rate jumped to 31.3 percent in 2008, shortly before the hryvnia last sank.




“I’m ready to tolerate the current economic situation as long as the war is on,” said Hanna Hryhoriyeva, 67, a teacher at a culinary college who backed the protests’ anti-corruption message. “I won’t go onto the streets tomorrow because of inflation and the devaluation but my patience isn’t infinite.”


Others are less understanding.


Valya, a pensioner who declined to give her last name, said she’d just bought 2 kilograms (4.4 pounds) of grain that should last a month, along with potatoes and beetroot from the market. While she doesn’t drink alcohol or smoke, she can’t afford the bus to visit relatives’ graves in the Lviv region.


“Glory to Ukraine?” said Valya, 76, referring to a slogan of the street uprising. “Glory for what? Higher prices? The war? We’re just tolerating the authorities.”

And may end badly...

“Inflation is the same as the war,” Valchyshen said. “It may lead to protests if people blame the authorities for failing to conduct proper policies.”

*  *  *

Is it any wonder Poroshenko is talking up the war and hoping for more aid/loans from The West to subordinate his nation...

And then this happens...

  • Russian Prime Minister Dmitry Medvedev on Thursday held a phone conversation with Ukrainian Prime Minister Arseniy Yatsenyuk, the Russian government press service reported Thursday.
  • “Medvedev and Yatsenyuk discussed issues of financial-economic cooperation between the two countries,” the statement said.

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JustObserving's picture

Another country ruined by the Nobel Prize Winner along with the seven Muslim countries bombed and ruined.  Ukraine will not recover for decades. What did he win the Nobel Prize for anyway? Lying? Droning?

Pulitzer Prize-winning investigative journalist Seymour Hersh has published an article demonstrating that the US government and President Barack Obama knowingly lied when they claimed that the Syrian government had carried out a sarin gas attack on insurgent-held areas last August.


Publicus's picture

The Nazis of Europe must be eradicated.

stocktivity's picture

Futures are up! Carry on...It's all Bullshit!!!

remain calm's picture

And Gold is down, CBers are fat and happy on turkey day Pass the sweet potatoes Janet you fat ugly fucking pig.

ZerOhead's picture

The sweet irony is that Nulands free cookies may actually end up resulting in the death of Porkochoco's candy empire...

BuddyEffed's picture

Regarding "Is it any wonder Poroshenko is talking up the war and hoping for more aid/loans from The West to subordinate his nation " I did comment on an earlier article today that "When your real economy is dead in the water, then you try making noise to get an artificial economy in place.  The squeaky wheel gets the "grease".  The tanks are immaterial.  It's the money spent on logistics, supplies, etc that can then be grifted a little for the local politicos. "

Anusocracy's picture

Stupid people all across the world worship at the altar of the government monkey.

They deserve ten times the shit they're getting.

TahoeBilly2012's picture

So these dumb fucking Slavs prefer war and starvation over a Russia speaking President? I get it, not. Amazing how sheep are led to war and then find some honor in the misery. We are all doomed.

Latina Lover's picture

You can thank the US State Department for creating this debacle by overthrowing the elected Ukrainian President Feb. 2014, and replacing him with USSA controlled puppets.  The NeoCon Idiots, led by the foulmouthed Victoria Nudelman/Nuland, fantasized capturing all of the Ukraine, humiliating Putin by ejecting the Russian Black Sea fleet from the Crimea, and stealing Donbass and Crimea Oil and Nat Gas.

  Instead Putin strengthened Russia's strategic position by reincoporating Crimea into Russia and supporting the Donbass rebellion. The USSA is now forced to indirectly attack Russia in her own backyard  using Ukie fascist rejects. The Ukies, as usual, will lose, Russia will gain stature, and America will be discredited to hundreds of millions of Russians, Slavs, etc. 

As a reward for Nudelmans gross incompetence and vulgarity, she will be promoted to an even higher level,  where she can cause even more trouble.

Al Tinfoil's picture

Nuland for Secretary of State!

tonyw's picture

perhaps she should organise a coup in the US!

clearly she doesn't think it necessary to wait a few months for an election, just get it done, damm the consequences.


ramacers's picture

don't use the word nazis (which i do when appropriate) in a comment on yahoo news; they'll censor it.

in4mayshun's picture

Even better, don't read Yahoo news

Amerikan Patriot's picture

Any idea why many Ukrainians chose to join forces with the Nazis during WWII, Bob?

It was because of the Holodomor - and other extermination attempts upon Ukrainians by the Soviets - that the Ukrainians actually found the Nazis preferable to Stalin's brutality.  In other words, as despicable as the Nazis were, even they were on a higher level than the atrocities perpetrated by the Soviet Union upon its own people. 

In fact, no other country in the history of humanity has killed more people and caused more misery than your beloved Soviet Union!

Imagine that, Bob...now you know!


Latina Lover's picture

Spoken like a true Nazi, claiming Hitler was better than Stalin. For a master race, you  Ukies are real losers, LOL>

Question: what do you give an Ukie Nazi for Christmas?

Answer:  A GI-Jew and an Easy Bake Oven.

Bay of Pigs's picture

No, lets call him a "nigger" instead? We see them everywhere on ZH these days.

It's fuckan brutal.

Amerikan Patriot's picture

Whilst Hitler managed fewer than 15 million civilian deaths, Stalin triumphed with nearly 50 million dead souls to his credit.

The proof of Nazi inferiority to Stalin's killing machine is in the numbers, Bob - you silly goose!

Anusocracy's picture

If you consider that the result of US entry into WWI was the impetus for WWII, the US is the biggest killer.

Other than that, historically, the Mongols #1, Mao's China #3.

Steal Your Face's picture

In other words, they made this deal:  “We will get the United States into this war as your ally. The price you must pay us  is Palestine after you have won the war and defeated Germany, Austria-Hungary, and Turkey.”

Now England had as much right to promise Palestine to anybody, as the United States would have to promise Japan to Ireland for any reason whatsoever.   It's absolutely absurd that Great Britain -- that never had any connection or any interest or any right in what is known as Palestine -- should offer it as coin of the realm to pay the Zionists for bringing the United States into the war.

However, they made that promise, in October of 1916.   October, nineteen hundred and sixteen. And shortly after that -- I don't know how many here remember it -- the United States, which was almost totally pro-German -- totally pro-German -- because the newspapers here were controlled by Jews, the bankers were Jews, all the media of mass communications in this country were controlled by Jews, and they were pro-German because their people, in the majority of cases came from Germany, and they wanted to see Germany lick the Czar.

The Jews didn't like the Czar, and they didn't want Russia to win this war.  So the German bankers -- the German-Jews -- Kuhn Loeb and the other big banking firms in the United States refused to finance France or England to the extent of one dollar.   They stood aside and they said: “As long as France and England are tied up with Russia, not one cent!”  But they poured money into Germany, they fought with Germany against Russia, trying to lick the Czarist regime.

Now those same Jews, when they saw the possibility of getting Palestine, they went to England and they made this deal.  At that time, everything changed, like the traffic light that changes from red to green.  Where the newspapers had been all pro-German, where they'd been telling the people of the difficulties that Germany was having fighting Great Britain commercially and in other respects, all of a sudden the Germans were no good.   They were villains.   They were Huns. They were shooting Red Cross nurses.  They were cutting off babies' hands.  And they were no good.

Well, shortly after that, Mr. Wilson declared war on Germany.

After we got into the war, the Zionists went to Great Britain and they said: “Well, we performed our part of the agreement.  Let's have something in writing that shows that you are going to keep your bargain and give us Palestine after you win the war.”   Because they didn't know whether the war would last another year or another ten years.   So they started to work out a receipt.   The receipt took the form of a letter, and it was worded in very cryptic language so that the world at large wouldn't know what it was all about.   And that was called the Balfour Declaration.

The Balfour Declaration was merely Great Britain's promise to pay the Zionists what they had agreed upon as a consideration for getting the United States into the war.

When the Germans realized this, they naturally resented it.




Haus-Targaryen's picture

Normally your posts suck.  This is 100% true and everyone knows it.  

Here is a fun way to make Germans uncomfortable --

Next time you encounter one, ask them -- if given the choice -- where would they rather live -

1) Soviet Russia with Stalin

2) Nazi Germany with Adolf  

Rock On Roger's picture

Posts that suck are a clear sign of a ziotroll.

Ghordius's picture

perhaps the reason the typical German you encounter is uncomfortable with the question is your vehemence on such culturally touchy subjects?

what would you prefer? being fried in oil or getting barbecued on coals?

Al Tinfoil's picture

"Whatever you don't mention the war." - Basil Fawlty.

HowdyDoody's picture

or a Palestinian in Israel.

I would rather be a Jew in Iran than an of those.

tonyw's picture

if you compare the Berlin wall to the Palestinian "fence" there is no real comparison, the Palestinian "fence" is much higher and longer.

Plus the people are being steadily starved.


Anusocracy's picture

The telling choice is whether you want to live under freedom or under the elites and their government.

silvermail's picture

South and East Ukraine - is a former Russian land, where in the times of Stalin, lived for more than 70% Russians. That there was a famine from which people died. But among those who died from hunger, 70% - it was the Russian people, but not Ukrainians. Because Stalin never struggled with the Ukrainians. Stalin fought with the class of prosperous peasants. He destroyed this class of the population, regardless of nationality or place of residence. Therefore, the famine was not only in Ukraine (in the former Russian territories with of the Russian population), but in the Russian Volga too.

Myth that Stalin destroyed Ukrainians was needs the West for to share two close relatives population and then conquer them.

Fraud, Famine and Fascism - The Ukrainian Genocide Myth from Hitler to Harvard

Anusocracy's picture

"Stalin fought with the class of prosperous peasants. He destroyed this class of the population"

Sounds like a more aggressive version of what the US is doing to the middle class.

silvermail's picture

Today, the propaganda lies to us about the events of those years, in every letter.

1. Famine in Ukraine in the 30s was in areas inhabited predominantly Russian people. It is south and south-east of Ukraine. Most people died of starvation, were Russian, not Ukrainian.
More than any other, today scream and whine about the hunger, only WH Trolls and representatives of western Ukraine. But on the western Ukraine famine was not. This is called political prostitution.

2. Stalin never struggled with the Ukrainians, it is not necessary to repeat the nonsense for morons on Faux News propaganda. Stalin fought with the class of prosperous peasants, independed of any nationality of them.
Think about this: Stalin fought with the class of wealthy peasants, regardless of their ethnicity. Therefore famine in 30 years was not only in Ukraine, but in Russia, too.

Because WH Trolls today are very eager to sow discord between the Russian and Ukrainians. So they constantly repeat as a mantra, their lies about the alleged genocide of Ukrainians. So, they every year grow up numbers of Ukrainians died of starvation. LOL.

3.This paid WH Trolls are constantly trying to raise the issue of famine 30s.
Therefore, they very much want to sow discord between Ukrainians and Russian. This is their main goal - to push two Slavic people into mutual enmity and hatred. They want to divide this Slavic peoples and after rule over both of them.
Therefore, in any discussion classic WH troll, always says about "golodomor" and claiming, that it was "genocide of Ukrainians."

I myself have given birth there, where was this events about which you know nothing.
My ancestors lived there, where was this events about which you know nothing and about the which and you so unsuccessfully trying to lie.

Therefore, I in each topic where you will attempt to lie about hunger 30s, I will write the truth.
Myth that Stalin destroyed Ukrainians was needs the West for to share two close relatives population and then conquer them.

Fraud, Famine and Fascism - The Ukrainian Genocide Myth from Hitler to Harvard

tvdog's picture

Mao killed more people than all the Soviet leaders put together.

Ondoron's picture

Yes, but the Holodomor was not restricted to Ukrainia - it took place all over the Sowjet Union - a babaric, totalitarian, communist state. But what has that to do with Russia today? The Russians have lost all respect for the west because of all the covert war operations, the USD-hegemony, the arrogance towards foreign cultures and stuff. Free your mind! And don't blame the Russian Federation for the Holodomor. It's the same you'd blame today's Germans for the Holocaust.

avenriv's picture

@Amerikan Patriot

why do you say "Soviets" ? Ukrainians hate the russians. Were russians the leaders in USSR ? Where were hrusciov and brejnev born ? what was their nationality ?

can you let us know who were the leaders of the bolseviks ? name 5 of them...

it is confusing, you talk about soviets but the ukrainians hate the russians. at the same time it is interesting to notice the important role played by the ukrainians in a certain aspect of the events of the WWII (think about treblinka, auschwitz, etc).

Mr.Sono's picture

Hope and change for the Ukrainians. That's all they get.

jcaz's picture

Yep- pumping in more money just delays the inevitable, and even that is a diminishing return-   time for action.

Richard Chesler's picture

Everyone knows "Hope and Change" is just a registered brand name for pepper spray.

ZerOhead's picture

It's also my underwear brand...

ebear's picture

as in your wife hopes you'll change them once in a while?

ZerOhead's picture

No change...the coins are long gone.

It's time for Gideon Gono to take over the helm at the presses...

PT's picture

But oil is cheaper!  Shouldn't everything else get cheaper too?

socalbeach's picture

Oil is cheaper in dollars, not hryvnias.

PT's picture

I was debating with myself whether or not I should have attached a "/sarc" tag to that comment, or at least add a little silliness to make it more obvious but in the end I opted for keeping it short, simple and unclear as to whether I was joking or uneducated.  I leave it there in it's unadulterated, naive glory and give you the context here.

socalbeach's picture

I was debating with myself whether or not you were serious. The exclamation point made me think no, but the second sentence made me think yes.  Guess I was wrong.

chinoslims's picture

I think the quotes by the Ukrainians will apply to the US once the dollar collapses

disabledvet's picture

If I'm Putin I hit now and I hit hard.

The USA is in flames, Europe is weak, Japan near chaos.  Only Great Britain (and Australia and Canada) are even paying attention.

Happy Holidays!

Ides of November's picture

A few months early - things will really heat up mid 2015. June/July - November 2015 is when things blow up.

Haus-Targaryen's picture

Quit calling out time frames.  I did this once, and even though my math and economic forcasts were correct, jawboing proved me wrong -- something I couldn't account for.

I say this to say - we all know the collapse is coming.  We just don't know when.  Givey you time to prepare.  

Greenskeeper_Carl's picture

We may be declining economically, but I dont know about "in flames". A few packs of wild pavements apes setting a few cop cars on fire in an unimportant city hardly qualifies as 'in flames'. It may well be distracting the ignorant masses from whats going on in the world, but its not like thy were paying attention before anyway

MKD's picture

if i was putin i would do nothing.it is only a matter of time

August's picture

Putin will do as little overt as possible.  Since VV recently went on the record saying that the annihilation of Novorussia "will not be permitted", the question is just how badly Kiev and it's backers want to provoke Russia.  If they are really determined to get a hot war with Russia, they'll get one or, alternatively, they'll get a coup by the Ukraine military which takes out the Nazi government.

That's all I have to say about that.