The inflation expectations of the Russian population fell 6pp in March to 12.5%, as consumers feel the relief of the rapid stabilisation of the economy thanks to the fast action of the Central Bank of Russia.
Russia’s gross international reserves (GIR) held by the Central Bank of Russia (CBR) have fallen from $629.4bn on February 25 to $585.7bn as of May 13, a fall of $43.7bn according to the latest data released by the regulator.
The industrial price inflation in April was the second-highest since last November when Gazprom began charging much higher prices under a new contract.
The volume of construction works in Romania increased by 6.5% y/y in the first quarter of 2022.
Trust in TV news is declining among Russians, as social media news gains popularity. At the same time, Russian support for the war in Ukraine appears to be slipping, as does the belief that Russia is winning a global power struggle.
The new government's pledged to improve the economic and political environment has yielded results despite the war in Ukraine and soaring energy prices.
Romania’s GDP increased by a real 6.5% y/y in the first quarter of the year, surprising analysts who had expected more damage from the war in Ukraine.
Full-year economic growth forecast at around 5% despite Ukraine-driven slowdown.
The impact of sanctions on Russia, higher financing costs and lower purchasing power amid rising inflation are likely to dent growth in the coming quarters.
With double-digit headline inflation and accelerating core inflation readings, the National Bank of Poland is expected to keep on tightening monetary policy in the months to come.
The deterioration in output was visible in March, the first month after the outbreak of the war in Ukraine, at -1.6% y/y.
Headline industrial output growth slows to 3.6% y/y, down from 4.8% in the previous month.
Annual inflation up 1.4pp from the March reading, and is 0.1pp higher than the flash estimate.
Inflation hits 11.8%, up from the 10.4% recorded in March.
Headline inflation in Hungary accelerated to 9.5% y/y in April, from 8.5%, while core inflation edged up from 9.1% to 10.3%.
In yearly terms, inflation accelerated to 14.2% in April, up from 12.7% in March, driven mainly by price increases in housing, fuel and food.
Among the sectors, energy (down 29.7% y/y), car manufacturing (down 13.9% y/y) and petroleum-based manufacturing (down 25.6% y/y) fared worst.
The EBRD has cut its 2022 emerging Europe growth forecasts again, reflecting a sharp downgrade for Ukraine and the regional fallout from the war and sanctions.
Unemployment rate fell by 0.1 percentage point month-on-month and by 0.8pp year-on-year.
Across the region, the average publicly guaranteed debt to GDP ratio fell from 60.8% of GDP in 2020 to 56.5% in 2021, a World Bank report shows.