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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.
Georgia's leading bank is expanding its international operations and investing in cutting-edge banking technologies.
Russian GDP contracted by 2.1% last year. For the current year, we expect an economic decline of similar magnitude.
Pandemic and Ukraine war impacts bring hardship that makes battle to subsist outside of the city a gruelling challenge.
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.
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.
Global wind turbine order intake hit new highs in 2022, with 44 GW procured in the fourth quarter and 134.6 GW for the year. Both of these order intakes were records, says a new analysis by Wood Mackenzie.
23.8% y/y rise in food prices is main driver behind annual hike in consumer prices.
The Western Balkan countries are following the path established by Central Europe that emerged as a prominent manufacturing and services hub early in the transition period.
Automotive production rose 20.3% y/y as headline industrial output confirmed to have inched down 0.2% y/y in January.
The Russian invasion has caused a poverty crisis in Ukraine and the most vulnerable citizens are struggling with basic necessities, particularly food.
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.
Like the National Bank of Poland, we expect a big drop in CPI inflation by the end of 2023 (see table), but we see a lot of risks hindering inflation from reaching the target in subsequent years. There is little chance for rate cuts this year.
Moldova is often painted as small, struggling and stuck between the East and West. Its tourism industry was no different, at least until 2020. It has since borne the brunt of three global crises and has the battle scars to show for it.
One year after Russia’s invasion of Ukraine upended agricultural commodity markets, food prices remain elevated even after retreating from their record highs in early 2022.
Czech authorities and VW's Skoda Auto insist the carmaker’s plans for a massive electric battery plant in Central Europe are merely postponed, and that VW is awaiting a EU decision on a new EU incentive framework.