The slowdown in the inflation rate is set to keep the Polish rate setters in the current dovish mood, analysts predict.
Czech retail sales expanded by 7.8% year-on-year and 3.1% month-on-month in November, the country’s statistical office reported on January 11.
Czech inflation fell to 2.4% year-on-year in December, down 0.2pp, with the month-on-month rise in consumer prices staying at 0.1%.
Total EM portfolio inflows since the start of the year amounted to some $7bn.
Inflation has now grown for 16 months straight, in line with forecasts for a decisive pick-up in CPI this year.
Factory gate price growth decelerated in December but this still marked the fourteenth straight month of annual growth.
The Lithuanian consumer price index grew 3.9% y/y in December, easing 0.5pp in comparison to the previous month.
The gain leaves overall price growth in 2017 at 3.4% as well, a major pick up compared to inflation of just 0.1% in 2016.
Lithuanian retail sales grew at an unadjusted 4.8% y/y in November at constant prices.
November marked the 24th month in a row in which sales expanded, helped by rising real incomes.
Estonian retail sales fell 1% y/y in constant prices in November, the first fall since June 2013.
The expansion is 3.5pp slower than the annual reading for October and marks a return to the subdued growth figures that dominated in the second half of 2017.
The November growth remains in line with forecasts indicating the Latvian economy’s shift to a higher gear in 2017.
Poland’s international reserves contracted 2.1% m/m to PLN394.4bn in December.