Poland’s unemployment rate stood at 5.2% in December 2022, up by 0.1% MoM, according to an estimate by the Labour Ministry. Economists polled by PAP also saw the jobless rate in December 2022 at 5.2%. The number of registered unemployed increased to 813,200 at end-December 2022 against 800,000 at end-November 2022, the Ministry of Family…
The Monetary Policy Council (RPP), the Polish central bank’s rate-setting body, has kept the reference interest rate at 6.75%. The National Bank of Poland’s Lombard rate remained at 7.25%, the rediscount rate at 6.80% and the discount rate at 6.85%, the RPP announced after its sitting on January 4. The RPP also left the deposit…
Poland’s rate-setting body has argued that the 11 interest hikes it has carried out so far should be enough to bring down the consumer price index (CPI) amid weakening global sentiment and inflation falling across major countries. The Monetary Policy Council (RPP) left rates unchanged for the fourth time running on January 4 following 11…
Prices of consumer goods and services (Consumer Price Index, CPI) increased by 16.6% YoY and by 0.2% MoM in December 2022, the Central Statistical Office (GUS) reported on January 5. Economists polled by PAP Business estimated that December 2022 CPI would reach 17.3% YoY and 0.8% MoM. In November 2022, the prices of consumer goods…
Inflation in Poland, which hit 16.6% in December 2022, will remain at the double-digit level for the first three quarters of 2023, an economic think-tank has forecast. Prices of consumer goods and services increased by 16.6% YoY in December 2022, the Central Statistical Office (GUS) reported on January 5. The reading is lower than economists…
Poland’s fuel prices are among the lowest in the EU, the government spokesperson has said responding to opposition claims that fuel prices are being inflated. On January 3, the main opposition party, Civic Platform (PO), accused the state-owned fuel corporation PKN Orlen of unnecessarily raising fuel prices. According to PO, the hike in prices cost…
Polish GDP could grow by 0.6% this year, if Poland receives the EUR 35 billion in EU funding it is currently locked out of, the finance minister has said. The European Commission (EC) has denied Poland access to funding over concerns with the rule of law. But the Polish government is hoping that by agreeing…