Recession to cure inflation? Now stagflation is knocking
In Estonia, inflation over the year has reached 22.8%. Meanwhile, growth in retail sales and industrial output has slowed down.
In Estonia, inflation over the year has reached 22.8%. Meanwhile, growth in retail sales and industrial output has slowed down.
The deficit on the CAB shrank 4.5 times, thanks to a dramatic plunge in the foreign trade and the increasing surplus on the balance of services.
In Poland, June CPI rose to 15.5% YoY, where energy carriers were 35.1% more expensive than a year earlier, with fuels +46.7%.
In Estonia, consumer prices rose 21.9% in June over the year, whereas the share of energy in the consumer basket is higher only in Latvia.
In Latvia, inflation was on the rise in June (+19.3% YoY). Businesses transferred the cost increase to the prices and made consumers pay for it.
The amount of payment transactions of EMIs and PIs grew strongly in Q1 2022 and was double the level of a year ago. Revenues grew 3.5 times.
Upward pressure from commodity prices continues and symptoms of a marked economic slowdown are visible in the construction industry.
In May, inflation in Estonia touched 20% over the year, with higher energy costs being passed through to the prices of goods and services.
Following a rapid recovery from the pandemic, the Lithuanian economy faces the economics of the conflict in Ukraine in a strong position.
As the price of almost all goods and services continued to increase, the scenario in Latvia is worsened by the transport sector.