Inflation in Poland will probably reach its peak either in the third or fourth quarter of 2022 and then will start to fall, a deputy finance minister has said. Piotr Patkowski also said the predicted peak for inflation would occur “if the current geopolitical situation does not change”. “It seems that this moment is not…
Fifty miles south of Warsaw on the route to Krakow lie Europe’s largest orchards, a huge maze of roads and dirt paths winding their way through a jungle of apples. Buried deep in the bush, Tomasz Porowski and Marcin Hermanowicz are helping transform Poland’s relationship with cider. “It was never a big drink in Poland,”…
Poland’s core inflation, excluding the prices of food and energy, measured 8.5% YoY in May, up from 7.7% in April, the National Bank of Poland (NBP) said. Core inflation, excluding fixed prices, amounted to 14% in May, up from 12.2% in the previous month. Core inflation, excluding the most volatile priced items, measured 10.4% in…
Employment in the Polish national economy grew by 1.6% YoY, to 15 million in 2021, the Central Statistical Office (GUS) said. The largest increase was reported in the information and communication sectors, where a 7.2% rise was reported, while the largest drop was recorded in the mining sector (-2.6%) as well as in finance and…
Poland’s Harmonised Index of Consumer Prices (HICP) rose to 12.8% YoY in May, against an 11.4% growth in the previous month, Eurostat, the European Union’s statistics office, reported. Month on month, prices increased by 1.6%, Eurostat data showed. HICP is calculated according to uniform Eurostat methodology. According to Poland’s Central Statistical Office (GUS), the prices…
An increased demand for Polish goods and services was the main growth engine for Poland’s exports in April, according to a government think-tank expert. The National Bank of Poland’s balance of payments data showed that Poland’s exports reached a record high value of PLN 123.4 billion (EUR 26.25 billion) in April. Konrad Bochniarz, an economist…
The National Bank of Poland (NBP) paid out PLN 10.4 billion (EUR 2.22 billion), or 95% of its annual profit in 2021, into the state budget, the NBP said in a news release on June 15. In 2021, the NBP paid PLN 8.9 billion (EUR 1.9 billion) into the state budget. “On June 15, the…