Poland’s rate-setting Monetary Policy Council (RPP) is unlikely to increase interest rates again, as the hikes so far have had sufficient effect, an RPP member has said. But Gabriela Maslowska added that a further increase could not be ruled out. In a recent hiking cycle, the RPP raised interest rates 11 times but suspended rate…
Prices of consumer goods and services (Consumer Price Index, CPI) increased by 16.6% YoY and by 0.1% MoM in December 2022, the Central Statistical Office (GUS) reported on January 13. In a flash estimate, GUS said that December 2022 CPI would reach 16.6% YoY and 0.2% MoM. In November 2022, the prices of consumer goods…
Decrease of inflation to 16.6% in December 2022 was mainly due to the effect of lower heating costs, Jakub Rybacki from the Polish Economic Institute (PIE) said. As announced on January 13 by the Central Statistical Office (GUS), inflation in December 2022 amounted to 16.6% YoY. A month earlier, it stood at 17.5%. According to…
The largest number of foreigners working in Poland are Ukrainians, the family and social policy minister has said. Marlena Malag cited data from ZUS, Poland’s main insurer, which showed that 1,063,300 foreigners were legally employed in Poland in December 2022, a rise by 191,700 from January 2022. Malag noted the majority were Ukrainian refugees who…
Poland’s GDP should rise by 0.7% in 2023 against a 3.6% forecast earlier, the World Bank has said in a report. The World Bank has downgraded Poland’s economic growth in 2023 to 0.7% from a 3.6% increase expected in June 2022, said the bank in its report, which was published on January 10. The World…
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…