Germany Scoops Up European Ice Cream Crown Amid Central Bank Rate Cut Expectations

The European ice cream market is heating up as summer temperatures rise, and new data reveals that Germany is the largest producer of ice cream in the EU, churning out around 608 million liters in 2025. Italy comes second with 549 million liters, followed by France with 525 million and Spain with 457 million.

While CEE countries are smaller players in the European ice cream league, Serbia, Czechia, and Croatia are notable producers in the region. Hungary's central bank is expected to cut interest rates for the second time this year during a rate-setting meeting today, as inflation falls below the target rate of 1.2%. The country's government has also revised its budget deficit target to 7.5% of GDP due to undisclosed liabilities.

In Poland, the unemployment rate remains at 3.9% y/y in July, and a key MPC member suggests that interest rates are close to optimal levels, warning against further hikes. Serbia's parliament is reviewing its budget revision, which widens the deficit to 3.5% of GDP due to a one-off household support package.