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2021/06/07 / Erste Group Research

Base effects continued to affect inflation prints in May. We expect Romanian, Serbian and Czech CPI at more than 3% y/y. The headline CPI figure in Hungary probably reached its yearly peak at 5.3% y/y in May. Romania will complete the list of 1Q21 GDP breakdowns, supported by strong service sector performance and household consumption. Strong base effects pushed up industrial production growth to the high double-digits in April. Central bank meetings in Poland and Serbia are unlikely to bring any changes to the key rates. However, indication of an earlier end of the Polish asset purchase program cannot be ruled out.

General information

AuthorErste Group Research
Product nameVideo
Topic in focusFX, Macro/ Fixed income
Economy in focusCEE
Currency in focus-
Sector in focus-


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