Prices of consumer goods and services (Consumer Price Index, CPI) increased by 18.4% YoY and by 1.2% MoM in February, the Central Statistical Office (GUS) reported on March 15. Economists polled by PAP Business estimated that February’s CPI would reach 18.7% YoY and would decrease by 0.9% MM. In January, the prices of consumer goods…
Adam Glapinski, governor of the National Bank of Poland (NBP), has assessed that amid inflation forecasts it has become unlikely that the Monetary Policy Council (RPP), NBP’s rate-setting body, will increase interest rates. “Taking into account the results of the inflation projection, one might say that further hikes are becoming increasingly less likely,” Glapinski wrote…
More Polish firms plan to hire more staff than fire in the second quarter of this year, according to a survey published on March 14. In its report the ManpowerGroup HR also wrote that the majority of firms expected to make no changes to the number of their employees. It found that 28% of firms…
Global ratings agency Fitch has downgraded Poland’s GDP growth forecast for this year to 0.7% from 1.1% expected earlier. In its latest forecast, published on March 13, Fitch maintained its earlier prediction of a 2.6% economic growth in 2024. “With the energy crisis in Europe less severe than expected and energy commodity prices falling significantly,…
Poland’s competition watchdog, UOKiK, imposed a fine of over PLN 5.7 million (EUR 1.22 million) on the Polish subsidiary of German bank Deutsche Bank for damaging the collective interests of consumers, UOKiK announced on March 13. “Unacceptable unilateral changes to abusive contract provisions – in short defines the practice for which Deutsche Bank Polska has…
The intensification of Moldovan-Polish bilateral cooperation in the commercial-economic sector and supporting the country’s European path were the main topics of discussion between Prime Minister Dorin Recean and Polish Ambassador to Chisinau Tomasz Michal Kobzdej, the government’s communication and protocol department reported. Dorin Recean welcomed the consistent support of Warsaw authorities for the country’s European…
The average inflation rate in Poland will reach 11.9% this year, 5.7% in 2024 and 3.5% in 2025, the National Bank of Poland has said in a forecast. “Over the projection horizon, CPI inflation will decline as factors currently boosting its level subside,” the NBP said in its March 2023 inflation report published on March…