Poland’s retail sales decreased in real terms by 6.8% YoY and by 1% MoM in May, the Central Statistical Office said on Jne 22. Economists polled by PAP expected May’s retail sales to fall in real terms by 5.6% YoY and to grow by 0.6% MoM. In current prices, retail sales increased by 1.8% YoY…
Poland’s industrial output fell by 3.2% YoY in May, the Central Statistical Office (GUS) reported on June 21. Month on month, industrial output decreased by 4.4%. Economists polled by PAP expected May’s industrial production to fall by 3% YoY, but to increase by 5.1% MoM. Manufacturing prices increased by 3.1% YoY in May, but fell…
June 19 marked a record-breaking day for domestic gastronomy after Bottiglieria 1881 became the first Polish restaurant to win two Michelin stars. The good news did not end there with the Warsaw-based Nuta also winning a star in its first full year of operation. The city of Poznan, too, was left celebrating after Muga became…
The first flight by LOT Polish airlines’ dreamliner over the polar route took off from Tokyo to Warsaw on June 17. Owing to the Civil Aviation Authority’s decision to change part of the Air Operator Certificate (AOC), LOT Polish Airlines’ Dreamliners can fly over the North Pole, LOT’s spokesman Krzysztof Moczulski wrote on Twitter. By…
A June 15 ruling by the Court of Justice of the European Union (CJEU) on foreign-currency-denominated mortgages, which favoured consumers, came as no surprise and the Polish banking sector was prepared for it, a deputy finance minister said. The CJEU ruling said that consumers could demand compensation from banks beyond the reimbursement of monthly installments…
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…