Inflation should fall to a single-digit figure by the end of the year, a deputy minister said on January 10. Recently Poland has seen inflation hit highs not witnessed in decades. On January 5 Poland’s Central Statistical Office said consumer and service prices in December 2022 grew by 16.6% YoY and by 0.2% MoM, against…
Price hikes in Croatia after it adopted the euro can serve as a warning to Poland, the Polish prime minister said on January 10. Mateusz Morawiecki told a press conference that Croatia’s use of the euro, which began on January 1, had resulted in a rapid rise in the prices of fuel, consumer goods and…
Polish retail sales went up by 5.7% YoY in November 2022 after a 7.5% increase in October 2022, Eurostat, the EU’s statistics agency, reported. Month on month, retail sales went up by 2.6% MoM, the agency also said. Retail sales in the eurozone fell by 2.8% YoY in November 2022 after a 2.6% decline a…
Adopting the euro in Poland would be deeply harmful and result in a “radical drop” in the rate of GDP growth, the head of the National Bank of Poland (NBP) warned on January 6. Adam Glapinski went on to say that making the euro Poland’s currency would benefit “the richest, who invest abroad, have property…
Poland will experience a strong economic slump in 2023, the head of the country’s central bank has said. Adam Glapinski told a press conference on January 5 that the slowdown would bring both a decrease in economic growth and falling inflation. He added that the current 6.75% interest rate level was “adequate for the situation”,…
Poland should avoid a recession in 2023, the governor of the National Bank of Poland (NBP) has said, citing the bank’s forecasts. Adam Glapinski said there might be temporary fluctuations in 2023, but not a recession. “Our projections indicate that we will not have a recession, that we may have some sort of swing in…
The Polish central bank’s interest-rate hike cycle is not over yet, the bank’s head, Adam Glapinski, has said. Glapinski told a press conference that the bank was waiting for January/February inflation figures before deciding about interest rates. In a recent hike cycle, the National Bank of Poland’s Monetary Policy Council raised interest rates 11 times…