Poland’s core inflation, which excluded the prices of food and energy, measured 10% YoY in August and was down from July’s 10.6%, the National Bank of Poland (NBP) said on September 18. Inflation excluding fixed prices amounted to 8.9% YoY in August, down from the level of 9.6% in the previous month. Inflation excluding the…
Prices of consumer goods and services (Consumer Price Index, CPI) increased by 10.1% YoY, but remained flat MoM in August, the Central Statistical Office (GUS) reported. GUS confirmed its figures reported earlier in a flash CPI estimate. In July, the prices of consumer goods and services increased by 10.8% YoY, but declined by 0.2% MoM.…
In the first half of 2023, grain transshipment at the Port of Gdynia reached a record-high level of 3.3 million tons, deputy infrastructure minister announced on the X platform on September 12. The Puls Biznesu business newspaper reported on September 11 that 130% more grain was exported through terminals at the Port of Gdynia in…
Philip Morris International (PMI) will spend over PLN 1 billion (EUR 214 million) on a new production plant for heated tobacco sticks to be located in Krakow, southern Poland, the firm’s CEO has announced. Michal Mierzejewski, president of PMI for north-east Europe, told a news conference on September 12 that since 1996 PMI had invested…
Poland’s economy is predicted to grow by 0.5% in 2023 and by 2.7% in 2024, while headline inflation could hit 11.4% this year before easing to 6.1% next year, according to summer forecasts from the European Commission (EC). The new GDP growth forecast comes slightly below the EC’s May expectation of 0.7% for this year,…
Poland sees inflation declining faster than expected and the economy growing below estimates, so the interest rates have been adjusted, Adam Glapinski, governor of the central bank (NBP), has told a press conference following a surprising interest rate cut to 6%. “Poland has met previously-assumed conditions for an interest rate cut, namely reaching single-digit inflation…
An expert from the think tank the Polish Economic Institute (PIE) has called the September 6 interest rate cuts “surprising”, adding that that until the end of next year rates will fall to around 5.25% Poland’s central bank’s rate setting Monetary Policy Council (RPP) cut all interest rates by 0.75% on September 6, bringing the…