Prices of consumer goods and services (Consumer Price Index, CPI) rose by 13% YoY and were unchanged MoM in May, the Central Statistical Office (GUS) reported on June 15. In a flash estimate published earlier, GUS said that May’s CPI would reach 13% YoY and remain flat MoM. In April, the prices of consumer goods…
The National Bank of Poland (NBP) announced on June 14 that the institution had been honoured at the Central Banking Awards 2023 held in London. NBP received the Central Banking “Currency Manager” Award for its money management in face of the Russian invasion of Ukraine. Adam Glapinski, the head of the Polish central bank, as…
The government agreed on Poland’s 2024 draft budget, the prime minister told a press conference after a Cabinet meeting on June 13. Mateusz Morawiecki said the government had also agreed to raise the minimum wage. He added that compared to other European countries Poland’s current economic results “are nothing to be ashamed of”. “We have…
An amendment to Poland’s 2023 budget law, adopted by the government on June 9, foresees the deficit PLN 24 billion (EUR 5.37 billion) higher than previously, the minister of finance has announced. The budget deficit for 2023 was originally planned at PLN 68 billion (EUR 15.22 billion), with expenditures seen at PLN 672.5 billion (EUR…
The Polish government has agreed to trade unions’ demands to offer further support to energy-intensive companies this year amid an ongoing energy crisis. Prices of energy commodities rose after Russia invaded Ukraine in February 2022 causing a number of energy-intensive Polish companies to struggle with energy costs. The agreement between the government and the Solidarity…
Adam Glapinski, the governor of the National Bank of Poland (NBP), has said that inflation is falling, as predicted in forecasts, and that this process will continue. “As we predicted in the projection, inflation is definitely falling,” Glapinski confirmed during a press conference on June 7, a day after the NBP’s Monetary Policy Council decided…
Polish retail sales went down by 2% YoY in April after a 5.1% decrease in March, Eurostat, the EU’s statistics agency, reported on June 6. Month on month, retail sales went up by 1.4%, the agency also said. Eurostat annual growth figures are work-day adjusted, while the monthly growth figures are also seasonally adjusted. Eurostat…