The PPI index started to increase rapidly at the beginning of 2021.
In annual terms, industrial output still increased by an impressive 16.2% in July as an effect of subdued activity last summer.
Albania's clothing and footwear sector was deeply damaged by the pandemic, and has yet to recover to pre-crisis levels.
Inflation accelerated driven by food prices, in line with an increase in prices seen across the emerging Europe region.
€3.5bn Eurobonds issued in July pushed debt up to RON545.3bn at the end of the month.
Consumer price inflation was driven up by higher prices of fuel, construction materials and some food items.
Croatia’s economy is expected to post robust growth in 2021 and 2022 mainly thanks to the recovery of the services sector.
Blue chips Medlife and TeraPlast and real estate developer Impact boasted price increases in excess of 100% in 12 months.
High inflation over the past 12 months has reversed the effects of several months of deflation in the first part of 2020.
Headline inflation in Romania accelerated from 4.95% y/y in July to 5.25% y/y in August, reaching the highest level since May-June 2018.
The trade deficit posted by Romania in July was the second-largest ever at €2.2bn.
The business confidence indicator based on an annual survey of Amcham Albania members dropped in 2020 to its lowest level since the index was launched in 2012.
Price of materials surged by 8.6% q/q, accounting for nearly 70% of the total construction costs.
Following robust GDP growth, the central bank expects inflation to return to target during 2022.
Romania’s GDP advanced by 1.8% q/q in the second quarter of the year, marking a 13% annual advance compared to the ‘lockdown quarter’ of 2Q20.
Central bank expects consumer prices to increase further based on expected movements in import prices.
Economy rebounds from steep contraction in 2Q20, with a strong performance from the retail, hospitality and manufacturing sectors.
Consumption has already returned to pre-crisis growth rates and is not far from where it would have been in the absence of the COVID-19 crisis.
The jobless rate has been constantly falling in the last few years, but the pace slowed in 2020 due to the coronavirus pandemic.
Figures suggests higher energy prices have not yet passed through to consumer prices so further supply-side inflationary pressures are expected.