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CEE falling inflation trend comes to an end
3 days ago
Lithuanian industrial production fell 0.5% y/y in September on a calendar-adjusted basis, according to data from Statistics Lithuania released on October 23.
The reading is the first fall in output after two years of uninterrupted expansion, hinting at weaker economic growth in the fourth quarter. Economic growth came in at an adjusted 3.8% y/y in the second quarter, while unadjusted growth was 3.8% in annual terms. An early estimate of GDP growth in the third quarter is due on October 30.
In monthly seasonally and calendar-adjusted terms, industrial activity retreated 3.3% in September, while unadjusted data recorded falls of 2.5% y/y and 5.7% m/m. In nominal terms, Lithuanian industry turned out €1.9bn worth of product in September.
The adjusted annual fall in September owes to production contracting 0.2% y/y in the most-weighted manufacturing segment, compared to a growth of 4.2% y/y in August. Output in the utility segment also fell, at 6.1% y/y; that compares to a reduction of 4.6% y/y in August.
The water supply, sewage treatment, and waste management segment saw production grow 5.7% on the year in September, compared to 3.8% y/y the preceding month.
Output in mining and quarrying declined 6.6% y/y in September, the fall’s rate slowing down slightly compared to a drop of 7.5% y/y in August.
Related Content
Data
CEE falling inflation trend comes to an end
After spiking to 20-year highs thanks to the pandemic and Europe’s Russian induced energy crisis, inflation rates across the EU have tumbled in recent months. That trend has ended and CEE central banks are expected to hike rates again in 2H24.
Hungary’s CPI edges lower, but price pressures remain in service sector
Consumer prices in Hungary rose 3.6% y/y in March, but services' prices rose almost 10%.
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Czech inflation stagnated at 2% in March
Consumer price indices (inflation) in Czechia remained at 2% in March, the same year-on-year growth as in February, which is the lowest inflation rate since December 2018.
Ukraine records lowest inflation in over three years
Ukraine's inflation rate dropped to its lowest level in more than three years in March 2024, marking a significant slowdown in consumer price growth, according to data released by the State Statistics Service.
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