Gas-through-the-Baltic: the hope for energy diversification is still warm
Poland has launched the Baltic Pipe, the infrastructure which will deliver 6.5 billion cubic meters of Norwegian gas in 2023.
Poland has launched the Baltic Pipe, the infrastructure which will deliver 6.5 billion cubic meters of Norwegian gas in 2023.
Despite retail sales in Poland rising by 4.2% YoY in August, with the inflationary everything-bubble prospects for upcoming quarters are deteriorating.
Energy independence, the fight against the shadow economy, digitization, stability and rule-of-law are essential for Latvia’s competitiveness and FDI attraction.
In Estonia, the consumer basket price was 24.8% higher YoY. Orders have declined, making harder to pass the higher costs to the final products. Competitiveness is at stake.
Polish industrial production grew by 7.6% YoY, thus decelerating rapidly in recent months. The economy and the labor market must adjust to a new energy shock.
In Latvia, the State programme for house purchase provides a boost to the price increase, lowering the effectiveness of the macroprudential policy.
In Estonia, inflation over the year has reached 22.8%. Meanwhile, growth in retail sales and industrial output has slowed down.
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.