Inflation

The average monthly earnings of private sector employees improved in 2023, largely thanks to the increase in the minimum wage, which pushed up all pay brackets.

BELGRADE - The National Bank of Serbia (NBS) Executive Board decided on Thursday to keep the key policy rate on hold at 6.50 pct, the central bank said.

In a statement, the NBS said the deposit (5.25 pct) and lending facility (7.75 pct) rates also remained unchanged.

New Central Bank Governor Fatih Karahan has said that the bank will maintain its tight monetary stance until inflation falls to levels consistent with its target, while the bank has kept its inflation targets for 2024 and 2025 unchanged.

Two US Federal Reserve officials indicated Wednesday that the nation's central bank is on track to tackle inflation, but that it is still too soon to begin lowering interest rates.

Eyes will be on Fatih Karahan, who took the helm of the Turkish Central Bank last week, as he is set to present the banks' first quarterly inflation report of 2024 on Feb. 8.

To meet the criteria for entering the Eurozone, Bulgaria is gearing up for a significant shift in its economic landscape, with prices expected to witness a downward trend in the coming months, OFFNews reports.

The Greek government on Monday ruled out additional support measures for farmers who have been setting up blockades, echoing protests by their counterparts in other parts of Europe driven by grievances over inflation, foreign competition and the costs of combating climate change.

Türkiye's annual inflation rate increased from 64.77 percent in December last year to 64.86 percent in January, the data from the Turkish Statistical Institute (TÜİK) showed on Feb. 5

The month-on-month consumer price inflation, which has been declining since August last year reserved course last month, but this was widely anticipated.

The value of the retail trade turnover in Cyprus last year recorded a substantial increase of 8.9%, while the volume of retail trade turnover saw growth of 5.8%.

Retail prices in Istanbul rose by 6.7 percent in January from a month earlier, accelerating from the 3.5 percent monthly increase recorded in December 2023.

The annual increase in retail prices quickened from 74.9 percent to 76.2 percent, the data from the Istanbul Changer of Commerce (İTO) showed.