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Food Inflation Could Accelerate in July

POLAND
  • In an article written for Rzeczpospolita, NBP governor Glapinski writes that global price growth continues to be fuelled by commodity prices as well as supply chain disruption. These leaves external factors being responsible for around 75% of CPI deviation from the bank’s target.
  • Food inflation could accelerate in the coming month, despite the reported decrease of FAO Food Price Index for a fourth month in a row, according to a Rzeczpospolita study citing a survey of food prices.
  • Opposition parties remain split in their approach to election strategy, with opposition parties recognizing the risk of a split vote, but divided in the best strategy to prevent PiS retaining a majority of parliamentary seats, according to Gazeta Wyborcza.
  • Bloomberg write on the mortgage holiday rules across Poland, writing that the law halting loan payments will result in Polish banks’ record profits being wiped out. Additionally, relief for borrowers will be brief at best, with most loans across Poland remaining on variable rates.
  • DGP writes that Poland will likely start paying out subsidies to households on heating in late September/early October. These subsidies will not require means testing or be subject to income brackets, with the government looking to avoid any delay in payments.
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