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POLAND: NBP Strikes Familiar Tone in October Policy Statement

POLAND
PolandCEEMEAEM BulletBulletGlobalEmerging Market NewsRegion

Highlights from the NBP's October polict statement:

  • When the effects of the energy price increase fade [...] inflation should return to the medium-term NBP target, although the impact of higher energy prices on inflation expectations is an uncertainty factor.
  • Wage growth is still running at the high level.
  • It can be estimated that inflation net of food and energy prices also rose, but remained lower than CPI inflation. In August 2024, the annual fall in producer prices remained significant.
  • Demand and cost pressures in the Polish economy remain relatively low, which amidst weakened economic conditions and lower inflation pressure abroad curbs domestic inflation pressure.
  • The Council judges that consumer price growth is also constrained by the appreciation of the zloty exchange rate
  • However, price pressure in the domestic economy is stimulated by a marked wage growth

See the full release here.

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Highlights from the NBP's October polict statement:

  • When the effects of the energy price increase fade [...] inflation should return to the medium-term NBP target, although the impact of higher energy prices on inflation expectations is an uncertainty factor.
  • Wage growth is still running at the high level.
  • It can be estimated that inflation net of food and energy prices also rose, but remained lower than CPI inflation. In August 2024, the annual fall in producer prices remained significant.
  • Demand and cost pressures in the Polish economy remain relatively low, which amidst weakened economic conditions and lower inflation pressure abroad curbs domestic inflation pressure.
  • The Council judges that consumer price growth is also constrained by the appreciation of the zloty exchange rate
  • However, price pressure in the domestic economy is stimulated by a marked wage growth

See the full release here.