Ford drives hike in car production in Romania
1 day ago
Georgia’s inflation rose to 13.9% y/y in December after it has hovered between 12% y/y and 13% y/y since August, the statistics office Geostat announced.
Core inflation, however, eased to 5.9% y/y from 6.1% y/y in November.
The spike in the headline inflation reflects base effects caused by utility subsidies extended by the government in December 2020, when the price of the housing contracted by 22% m/m and the overall consumer prices consequently dropped by 1% m/m. The subsidies were phased off in March 2021, when the price of housing rose by 36% m/m. This base effect is likely to maintain the headline inflation at an elevated level by March 2022.
In December 2021, consumer prices increased by only 0.3% m/m.
The food prices, 0.8% up m/m and 15.6% higher than a year earlier, remain the main inflationary driver. They contributed 0.27pp tp the month’s 0.3% m/m inflation and 5.0pp to the annual 13.9% y/y inflation.
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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.
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