The article looks at what causes inflation in Ukraine from 1993 to 2002. They tested two models and found that while money supply and consumer prices were linked at first, this connection weakened later due to changes in how money was used. The model focusing on prices set by the government was a better fit for the data from 1996 to 2002. The way money moves in the economy affects short-term inflation, while exchange rates and wages play a role in long-term inflation. Factors like good economic policies, successful harvests, and government decisions helped lower inflation sharply from 2000 to 2002.