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Polish Economic Data On Tap, Agriculture Min Vows To Resolve Grain Situation

POLAND
  • Polish data dump today includes PPI, industrial output and retail sales, all coming up at 09:00BST/10:00CEST. Factory-gate inflation is expected to have decelerated to +11.0% Y/Y in March from +18.4% prior, according to a Bloomberg poll of analysts. Industrial output may have contracted 2.2% Y/Y after a 1.2% decline in the previous month. Retail sales are expected to have expanded by 7.7% Y/Y after a 10.8% growth registered in February.
  • Ruling Law & Justice party leader Jaroslaw Kaczynski said at an event in Janow Lubelski that "with inflation expected to fall each month from now, we are close to saying that our well-thought-out plan has succeeded," as he told the audience that an overdone response to inflationary pressures could have hampered economic growth for six years. NBP hawk Joanna Tyrowicz begged to differ, as she told Gazeta Wyborcza that "average annual inflation in 2023 will not be much lower than in 2022."
  • Agriculture Minister Robert Telus told Super Express newspaper that he will deal with the matter "by harvest time" or tender his resignation. In another interview for RMF FM radio, Telus said that he will meet with his colleagues from Romania, Slovakia, Hungary and Bulgaria to coordinate further steps. Meanwhile, Sejm Speaker Elzbieta Witek said that the lower house will convene for an additional sitting on May 9 to approve new aid measures for farmers.
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