Ford drives hike in car production in Romania
1 day ago
Poland’s core inflation, which measures price growth without food and energy expanded 11% y/y in October (chart), adding 0.3pp to the September reading, the National Bank of Poland (NBP) said on November 16.
Core inflation growth tracks the expansion of consumer prices (CPI), which also accelerated in October, coming in at 17.9%, a gain of 0.7pp versus the preceding month.
Accelerating CPI and core inflation dash hopes for price growth peaking in 2022. Analysts now expect inflation to peak at roughly 20% y/y in February.
The government says inflation is due to Russia’s war against Ukraine and the high commodity and energy prices that the aggression caused.
The government also hopes that the National Bank of Poland’s tightening of monetary policy - which saw its reference interest rate raised from 0.1% to 6.75% - would eventually reduce demand strongly enough for inflation to start falling.
At the same time, the NBP is wary to raise interest rates more to avoid the risk of too steep an economic slowdown. The NBP kept its interest rate unchanged for a second consecutive time in November.
In m/m terms, core inflation grew 1% in October, easing versus a gain of 1.4% m/m in September, the NBP data also showed.
Related Content
Data
Ford drives hike in car production in Romania
Romania’s automobile production increased by 7% y/y to more than 150,000 units in Q1.
Akbank launches spring syndicated loan renewals season for Turkish banks at better costs
Benefits of Turkey’s so-called economic normalisation policy clearly observed in external debt rollovers.
Ukraine's birth rate plummets to 300-year low as country’s population collapses
Ukraine’s population collapsed to 29mn souls last year, according to Ukraine Business News, with just 187,000 births recorded (including in Russian-occupied territories). This is the lowest annual figure in recorded history over the last 300 years.
Russia’s $13.4bn current account surplus in March second highest since 2007
Russia posted a $13.4bn current account surplus in March, more than double February’s $5.5bn and the second highest level for a March since 2007.
Automotive sector output in Hungary edges up 1.6% y/y in February
Headline industrial output rose 1.8% in February, increasing for the first month in about a year.
Most Read
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
2 days ago
-
Remittances come to the rescue of Lebanon’s battered economy
1 day ago
-
COMMENT: Armenia's decisive turn towards the West
1 day ago
-
US senators seek closer ties with Western Balkans to combat Russia's 'malign influence'
1 day ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
2 days ago
-
Iran vs Israel: Who is better equipped for war?
5 days ago
-
Saudi Arabia to scale back plans for Neom city
9 days ago
-
BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
5 days ago
-
PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
7 days ago
-
Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
5 months ago
-
Russia could pay off its entire external debt tomorrow, in cash
20 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
24 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
UBN: Russia could take the Baltic states in 48 hours
29 days ago
-
BRICS announce a blockchain-based payment system to create a common currency
22 days ago