Eastern Europe's economic boom falters as inflation reaches double digits in the region

In the weeks that followed Russia's invasion of Ukraine, western Europe's big economies began to falter. But further east it was still boom-time thanks to double-digit wage hikes and generous state handouts in some countries.

Not any more.

A sharp slowdown in retail sales and plunging confidence indicators show that the cost of living crisis has caught up with Europe's eastern wing, where people now face a harsh reality check as stubborn double-digit inflation erodes their incomes while food price rises top 15%-22% and energy costs soar.

As household consumption takes...