Prices of consumer goods and services (Consumer Price Index, CPI) increased by 13.9% YoY and by 1.7% MoM in May, the Central Statistical Office (GUS) reported on June 15. GUS thus confirmed its earlier flash estimate for both annual and monthly CPI readings in May. In April, the prices of consumer goods and services increased…
Poland’s economic growth will weaken to 3.2% in 2023 from 3.8% expected this year, while inflation will ease from this year’s 9.1% to 7.8% in 2023, the government has assumed in budget guidelines. “Short-term prospects for the Polish economy are highly uncertain owing to the geopolitical situation (Russia’s aggression against Ukraine), turbulence in global production…
Poland’s Consumer Price Index (CPI) will significantly exceed the central bank’s target for the next three years and will likely hit a peak of 15.8% YoY in August, according to a report published by a leading economic think tank on June 14. “For the next three years, inflation will considerably exceed the 2.5% inflation target…
A growing number of Polish companies plan to maintain their current level of employment, while the percentage of firms seeking new staff has decreased, according to a new survey by the Randstad recruitment agency. In all, 69% of companies will not add to their head count, up by 9% in comparison to December 2021, indicates…
“According to the semi-annual assessment of defence expenditures, their share of GDP at year-end will reach the level of 2.4%,” the Defence Ministry wrote in a press release. “The level of 2.4% of GDP on defence, which is planned to be achieved until the end of the year, also assumes Polish GDP growth included in…
The governor of Poland’s central bank has announced that Poland seems to be getting closer to the end of the monetary policy tightening cycle rather than to its beginning. “It cannot be ruled out that the Monetary Policy Council (RPP) will start cutting interest rates in the last quarter of 2023,” Adam Glapinski told reporters…
The governor of NBP, Poland’s central bank, has said that the country’s economic growth will reach 4-4.5% in 2022. “The economy grew by 8.5% in Q1,” Adam Glapinski told reporters on June 9 and added that it “has been gradually slowing down and it is likely to stand at 4-4.5% at the end of the…