Ford drives hike in car production in Romania
5 days ago
Polish CPI grew 11% y/y in March, the annual growth rate adding as much as 1.5pp to the February reading, statistical office GUS said on April 15.
Inflation returned with renewed strength in March, meeting expectations that the war in Ukraine would drive price growth further, particularly via boosting costs of energy and fuels. CPI is forecast to keep climbing up until a peak in June-July, after which it could possibly ease in line with faltering demand.
“We estimate inflation to come in at 10.4% in 2022 overall,” the state-controlled bank PKO BP said in a comment.
The March reading affirms the outlook for further tightening of the National Bank of Poland’s (NBP’s) monetary policy. The NBP hiked its reference rate by a surprising 100bp top 4.5% in March but is expected now to return to a 50bp increase rate.
Analysts say that the current tightening cycle will only stop at 7.5% in 2023.
Prices in the housing and energy segment jumped 17.7% y/y in March, including massive increases of 61.3% y/y for heating fuels and 49.2% y/y for gas, GUS showed in the breakdown of the data.
Transport prices increased 24.1% y/y in March, including a jump of 33.5% y/y in the fuels segment. Fuels also registered a shocking growth of 28.1% in March alone. Food prices increased 9.2% y/y in March.
In monthly terms, CPI added 3.3% in March, the fastest m/m increase since the mid-1990s.
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
-
EU finally boosts defence investment into arms production as Ukraine runs out of ammo
1 month ago
-
The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
1 day ago
-
UK’s Cameron addresses British “lack of seriousness” in Central Asia with five-day tour
1 day ago
-
COLLINGWOOD: Ukraine’s power blackout means a dark future
1 day ago
-
COMMENT: Can China compensate for Russia’s losses on the European gas market?
18 hours ago
-
Ukraine's birth rate plummets to 300-year low as country’s population collapses
6 days ago
-
Russia’s war economy boosted by rising oil prices
7 days ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
6 days ago
-
Iran vs Israel: Who is better equipped for war?
10 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
24 days ago
-
Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
28 days ago
-
Albanians campaign on social media to keep bus bridge created in freak accident
1 year ago
-
BRICS announce a blockchain-based payment system to create a common currency
26 days ago
-
UBN: Russia could take the Baltic states in 48 hours
1 month ago