Polish retail sales grew by 11.2% YoY in May after a 21.1% increase in April, Eurostat, the EU’s statistics agency, reported on July 6. Month on month, retail sales went down by 0.8%, the agency also said. Eurostat annual growth figures are work-day adjusted, while the monthly growth figures are also seasonally adjusted. Eurostat data…
Inflation and high prices are currently the most important challenges facing the Polish government, its spokesperson has admitted. Piotr Mueller said that “these problems are primarily caused by the situation on the energy market and, to a lesser extent, on the food market”. He also added that it was difficult to predict when inflation would…
Special discounts on petrol, such as the one introduced by PKN Orlen, the dominant Polish fuel company, may play an important role in lowering inflation, PKO BP’s chief economist said on July 4. Piotr Bujak said that “energy prices continue to rise, mainly those for natural gas, due to Russia limiting supplies to the European…
Poland’s Purchasing Managers’ Index (PMI) fell to 44.4 points in June from 48.5 points in May, economic researcher S&P Global reported. Economists polled by PAP predicted the PMI would reach 48.0 points in June. The June reading was the lowest in 25 months. S&P Global said high inflation and growing geopolitical tensions dampened new orders…
Prices of consumer goods and services (Consumer Price Index, CPI) increased by 15.6% YoY and by 1.5% MoM in May, the Central Statistical Office (GUS) reported in a flash estimate. Economists polled by PAP Business estimated that CPI would reach 15.5% YoY and 1.4% MoM. This is the highest CPI reading in Poland since 1997.…
The European Commission (EC) has approved a Polish EUR 1.2-billion public aid programme for companies affected by Russia’s war against Ukraine. “The European Commission has approved the EUR 1.2-billion Polish scheme (PLN 5.5 billion) to support companies across sectors in the context of Russia’s invasion of Ukraine,” the EC said in a press release on…
63% of Poles fear financial problems in connection with the Russia-Ukraine war, up by 2% from April, a survey by Deloitte revealed on June 29. 53% said their main fears concerned politics (-8%), while 38% named social issues (-3%). Various fears related to the war were named by 95% of the respondents, 12% of this…