Inflation has been rising for 15 consecutive months but started speeding up recently due to surging energy prices.
Slovak inflation hit 12.6% in May, up for the sixteenth consecutive month. Monthly growth of consumer prices was 1.6% in May.
Three consecutive months of hikes bring the key rate to 2% in a bid to maintain price stability.
Demand for copper is set to increase as the green transition accelerates, but some of the world's biggest copper-producing nations are having supply problems. A Goldman Sachs strategist has warned that the red metal may soon cost $15,000 per tonne.
Polish CPI growth accelerated 1.5pp to 13.9% y/y in May, with analysts now pencilling in 15%-16% y/y peak CPI growth in August or September.
Headline industrial output growth slows to 3.1% y/y.
Month-on-month, after seasonal adjustments, industrial output fell by 1.2%.
Food prices increased in line with the average, by 14.3% y/y, while prices of the non-food goods including energy and fuel advanced by 17.2% y/y.
Consumer price index increased by 16% y/y from 14.2% posted in April.
Further inflationary pressure is expected as end-user electricity prices rise by between 14% and 22% in June.
54% of Bulgarians don't want their country to switch to the euro, despite plans to enter the eurozone in January 2023.
While Belarus’ economy minister has said that sanctions should not affect the living standard of ordinary Belarusians, a recent survey made by the country’s statistical agencies shows that poor Belarusian are already becoming poorer.
The board of the Central Bank of Russia (CBR) cut the key interest rate by 150 basis points from 11% to a single-digit 9.5%, projecting confidence in managing the sanctioned and isolated Russian economy.
Trade gap reached €26.6bn in 12 months to April, after rising commodities prices pushed up the value of both exports and imports.
Seasonal jobs will continue to be advertised in the coming months, which means the unemployment rate could fall even further.
Earlier flash estimate indicating 6.5% y/y growth and a 5.2% q/q advance surprised analysts, who were expecting a weaker performance.
Manufacture of motor vehicles contributed the most to the drop in output, mainly as a result of the lack of components.
Russian car sales have crashed as sanctions has brought the import-heavy industry to its knees. Russia’s car sales drop 84% in post-invasion May 2022
The S&P Global Russia Composite PMI Output Index (manufacturing and services) posted 48.2 in May 2022, up from 44.4 in April and 37.7 in March.
Minister says a propaganda war is being fought in Bulgaria, turning public opinion on the war in Ukraine.