Economics

The Central Bank of Turkey announced at a briefing on Thursday that it has revised its inflation forecasts and now expects them to grow by as much as 42.8% by the end of 2022, compared to a previous inflation forecast of 23.2%.

The annual inflation for March 2022 compared to March 2021 in Bulgaria is 12.4%, according to the National Statistical Institute.

The consumer price index for March 2022 compared to February 2022 is 102.2%, i.e. monthly inflation is 2.2%, Inflation since the beginning of the year (March 2022 compared to December 2021) is 5.2%.

In early January, as part of efforts to contain inflation, which is at a two-decade high and running at one of the fastest rates in the EU, the Polish government announced it would introduce zero VAT on basic food items, natural gas and petrol. The move is part of efforts to relaunch the party ahead of the 2023 election as the one that looks after the interests of the working class.

Every regular consumer of fruits and vegetables has found that with each passing summer when many of these products are in real season, they become more expensive. And this is despite the frequent complaints of local producers about unregulated and cheaper imports or subsidized by the state.

Inflation rates in Turkey could peak in April before falling to single digits by the June 2023 general election, Treasury and Finance Minister Nureddin Nebati told Nikkei Asia in an interview published on Feb. 3. 

Turkey's annual inflation rate in January reached its highest level since April 2002, official data showed on Feb. 3. 

Consumer prices surged by 48.69 percent from the same period in January last year, up from an annual rate of 36.1 percent in December, according to the Turkish statistics agency.

Ljubljana – Slovenia’s annual inflation rate accelerated to 4.6% in November from 3% in the month before, the highest it has been since late 2008, on the back of higher prices of oil derivatives, show the latest Statistics Office data. At the monthly level prices were up by 0.7%.

The recovery continued in the third quarter of 2021, however the resurgence of the pandemic and the energy crisis pose downside risks for the fourth quarter of 2021 and jeopardize the disposable income of households.

This is the main conclusion of Eurobank's weekly study "7 DAYS ECONOMY".

Ljubljana – The Slovenian economic activity remains high but there are signs of a slowdown, the central bank says in its latest publication. The use of production capacities is high, the pre-crisis level of activity has been reached, and there is a shortage of raw materials and intermediate goods, and qualified workers, Banka Slovenije says.

One way to deal with high inflation is to support production and introduce tax breaks. Reducing VAT on food will increase collection and brighten the industry. The introduction of a "Green Certificate" at around 20% vaccination is a mistake that can lead to a slowdown in economic development.