Latvia's consumer price index (CPI) expanded 2.9% y/y in January, data released by the Central Statistical Bureau (CSB) on February 10 showed.
With price growth picking up speed on December’s growth of 2.2% y/y, January was the seventh successive month of rising CPI. The index added just 0.1% in 2016, having been tipped into the black by the December rise.
In monthly terms, prices grew 0.1% in January, clearly slower than the 0.6% growth the previous month. Most commodities-based sectors saw prices increase on an annual basis, the CSB data shows, although prices fell in clothing and footwear as well as in the housing segment.
The biggest price growth came in the food segment, where prices expanded 6.2%. In transport and communication, CPI grew 5.6% in each category.
Inflation will rebound to 2.5% in 2017, forecasts Swedbank. The European Commission is more cautious, predicting inflation of 1.8% this year.
There are big changes afoot in Russia's retail sector. The average Russian has some spare cash to spoil themselves a little for the first time in over four years, but this has not been reflected in footfall at malls.
Sentiment in construction, retail and services continued to deteriorate in May, latest data also shows.
Ukraine's industrial output rose 3% year-on-year in April following a 1% y/y growth in the prior month, according to the Ukrstat state statistics service.
The National Bank of Ukraine (NBU) kept its key policy rate unchanged at 17% due to the fact that "the current monetary conditions are sufficiently tight to bring inflation to its medium-term target", the regulator said in a statement on May 24.
After reporting slight recovery in industrial output in April, first-tier data of Russia Rosstat statistics agency showed improvements on the demand side as well, with retail trade increasing by 2.4% year-on-year in April, up from 2% growth m/m