Inflation and Monetary Policy in Black Sea Countries

Since mid-2020, when stringent restrictions were imposed to combat the spread of the COVID-19 pandemic, inflation has been running at multi-decade highs in many countries across the globe. In 2022 in particular, inflationary pressures from pandemic-related disruptions were exacerbated by the Russo-Ukrainian War and spiking food and energy prices. In response, central banks implemented different monetary policy approaches in an attempt to stabilize the situation. Against this background, recent inflationary trends and monetary policy approaches adopted by economically diverse Black Sea countries are analyzed and compared in this issue of Black Sea bulletin.