Search

In November 2022, inflation risks remain high both globally and in Central and Eastern Europe. This is mainly due to falling but still high energy prices, disrupted supply chains and, crucially, the consequences of the increasingly protracted war between Russia and Ukraine.

Ukrainian posters proclaim a common destiny between Hungarian and Ukrainian residents, highlighting that Hungarians are equally involved in the Russian-Ukrainian war, while the Hungarian government has consistently urged the early agreement in a ceasefire and the start of peace talks. Despite Hungary's pro-peace stance, the clients of the posters in Ukraine still have not reached the urgent need to end the war.

In October, inflation rose to 10.6% on average in the euro area, while it was 11.5% for the European Union as a whole. The greatest challenge in the euro area is the increase in energy prices, which have risen by 41.5% year on year.

International macroeconomic events in March were dominated by the failures of the US Signature Bank and Silicon Valley Bank. The problem lies mainly in the weaknesses in risk management and the banks’ business models.