Consumer price inflation dropped from nearly 35% y/y in October to under 25% y/y in February and the BNM expects it to drop down to 6.6% by the end of the year.
Eight out of ten (82%) of Russians consider themselves happy, according to a recent survey conducted by state-owned Russian Public Opinion Research Centre (VTsIOM).
The board of the Central Bank of Russia (CBR) resolved to keep the key interest rate unchanged at 7.5% at the policy meeting of March 17, while maintaining a hawkish rhetoric, but refrained from issuing a tougher monetary guidance.
Inflation is currently expected to begin easing – albeit very slowly – from March on, although the average inflation in 2023 appears certain to remain in double digits.
In each of the last two quarters of the year, the annual decline was steeper than 10%.
Average wages up 15% y/y in nominal terms in January, fully matching the rise in consumer prices after they lagged behind inflation for most of 2022.
Analysts predict the CPI to embark on an extended descent that might see the index down at around 10% y/y at the end of the year.
World Bank expects Kosovo's economy expanded by 3.1% in 2022, with growth to speed up to 3.7% this year.
23.8% y/y rise in food prices is main driver behind annual hike in consumer prices.
Australia is to become the seventh country in the world to introduce nuclear-powered submarines to its naval fleet, as part of a newly brokered deal between the United States, the United Kingdom and Australia (AUKUS), reports Statista.
Positive growth in January doesn’t change the big picture: the country is close to five years of industrial decline.
Ukraine saw an increase in overdue loans last year, rising from 34% to 39%, Ukraine Business News reported on March 14.
Automotive production rose 20.3% y/y as headline industrial output confirmed to have inched down 0.2% y/y in January.
Russia has brought in a new all-time high record harvest of 153mn-155mn tonnes of grain, President Vladimir Putin said during the visit to the Ulan-Ude Aviation Plant on March 14.
Russian inflation figures for February show the rate fell slightly below market expectations at 11% year on year. However, experts predict that it will fall further in March, to the central bank's target rate of 4% as base effects take hold.
Further rate cuts are expected particularly as the economy could use any impetus to recover from the deep dive seen in Q4.
Inflation peaked in late 2022, and is projected to return to the target within the first half of 2024.
Plant shutdowns due to energy price pressure could have contributed to surprise result.
54% of Eurobarometer survey respondents think the switch to the euro was a good thing for Croatia, but 62% think it will increase the inflation.
The slowdown in inflation started in November and consumer prices are expected to ease further during the year.