Key Events In EMEA For Week Of May 9

Photo by Adam Papp on Unsplash

CPI readings across emerging markets will show fresh increases in prices due to ongoing supply-side shocks.


Hungary: Further acceleration in price pressures expected

The highlight of the week in Hungary is the release of the April inflation print, although we don’t think we will have too much to cheer about. Despite the anti-inflationary measures in place, we expect a further acceleration in headline inflation as supply-side shocks and the impact of a weaker forint spill over. Food, durables and services will be the main drivers of the pick up in price pressure. Core inflation is expected to show an even stronger acceleration (here the anti-inflationary measures are having a more muted impact), moving close to the double-digit territory already in April. Based on seasonal patterns, the budget balance could show some improvement in April, but we won’t rule out another downside surprise as the expenditure side remains under pressure.


EMEA Economic Calendar

(Click on image to enlarge)

Refinitiv, ING, *GMT

 

Disclaimer: This publication has been prepared by the Economic and Financial Analysis Division of ING Bank N.V. (“ING”) solely for information purposes without regard to any ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.