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The February fall is the first since May 2020 and was more than 2pp below the consensus line.
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.
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.
Positive growth in January doesn’t change the big picture: the country is close to five years of industrial decline.
From March, Russians struggling to make ends meet will be able to take “credit holidays” for mortgages, consumer loans and credit card bills.
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.
Gloria Jeans is back. The store that officially sold the first Levi’s jeans in Russia after the collapse of the Soviet Union has closed a deal to take over Sweden’s H&M flagship store on Tverskaya, the main thoroughfare in Moscow.
Plant shutdowns due to energy price pressure could have contributed to surprise result.
Annual CPI inflation retreated to 8.1% in February from a 9.4% inflation rate the previous month, Galt & Taggart reports.
After McDonald's pulled out of Russia when the war in Ukraine started last year, its restaurants were rapidly taken over by a Russian replacement called Vkusno I Tochka ("Tasty, period") which now plans to introduce its own Happy Meal, The Kids Combo
Foreign investors from countries Russia deems unfriendly have been offloading billions of rubles' worth of Kremlin OFZ treasury bonds at steep discounts of up to 85%, bne IntelliNews can reveal.
Further increase after Moldova's public debt surged by €800mn in 2022, the second-steepest advance ever.
Popular maths app has already raised funding from Silicon Valley venture capital firms.
The reading is below the consensus, which expected a feeble gain of 0.3% y/y.
Demand weakens amid high inflation and high interest rates in Poland and its main trading partners.
Battered by the polycrisis in 2022 , the Eurozone’s industrial production ended the year with a nasty contraction of 1.1% m/m in December, Oxford Economics reports.
Turkey’s retail sales volume index officially climbed 21.8% y/y in December, the Turkish Statistical Institute (TUIK, or TurkStat) said on February 13. Food sales were up 12.9% y/y. Non-food ...
Central bank expects further disinflation this year with the inflation rate set to return to the target band in Q2 2024.
After the fuel price cap in Hungary was lifted in early December, fuel consumption dropped by 18.4% month on month. However, record-high inflation dragged down overall consumption similarly .