Eastern European nations confronting a plethora of economic threats fueled by war on their doorstep may face fresh pressure if peace is reached in Ukraine — from tight labor markets that fuel inflation thanks to an exodus of Ukrainian workers.

Central and Eastern European countries are home to a large proportion of the more than 4.3 million Ukrainians who fled to the European Union in the wake of Russia's invasion and have filled jobs amid historically low unemployment levels.

Their possible return to Ukraine after a peace deal is reached would be a snag in what is otherwise good news for the region.