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No belief in air balloons heading down anytime soon
Despite a slight increase in interest rates, the amount granted by credit institutions to Lithuanian residents increased by €306.0 million.
Despite a slight increase in interest rates, the amount granted by credit institutions to Lithuanian residents increased by €306.0 million.
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.
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.