Baltics (Update)

March inflation numbers are in in Latvia: 8.5% y-o-y, with monthly numbers (1.4%) far exceeding expectations (0.5%). The Baltic Times put it, Macarena reckons, in rather straight-forward terms:

In Latvia, inflation soared 1.4 percent in March, a full percentage point above expectations. The result baffled economists, who had predicted 0.4 - 0.5 percent. On closer analysis, however, it became clear that the culprit was the lat, which had lost a portion of its value against the euro as more forex traders sold the Latvian currency in favor of euros. (see here).

In Estonia numbers were also higher than expected: 1% in March, 5.3% y-o-y.
Let the games continue!