Industrial production prices in Romania (chart) increased by 11.6% y/y on average in April, further slowing down from 13.6% y/y in March.
While the energy prices remain relatively high (+19% y/y), the price of intermediary goods slowed down to +3.0% y/y – the slowest annual advance since 2020.
The prices of utilities (electricity, gas) still increased by nearly 42% y/y – yet far from the +200% y/y surge seen in August.
In principle, this should put less pressure on consumer prices.
The prices of durable consumer goods rose by 9.9% y/y in April, falling in the single-digit growth rate area for the first time since August 2021. The non-durable consumer goods’ prices still rose by 14.5% y/y.
Ukraine puts in first GDP growth since the war began of 19.5% as the economy starts to stabilise and low base effects push growth numbers up. The economy grew 0.8% on a q/q basis.
Oil wealth and faster economic growth have allowed Azerbaijan to spend much more heavily on the military than Armenia.
Industrial production fell 2% year on year in constant prices in August after a revised fall of 2.3% y/y the preceding month.
ING analysts say unpopular measures to contain the public deficit have potential to dampen growth in 2024 but shouldn't shake market confidence or EU funds inflows.
Erdogan’s new economic team keep pushing lines about capital flooding into country, but the evidence for that is not there.