Double-digit growth expected in Polish wages, economist says

Radek Pietruszka/PAP

Poland could soon see double-digit wage growth, according to the chief economist of bank PKO BP, Poland’s largest lender.

Poland's average gross wage in the third quarter of 2021 came to PLN 5,657.30 (EUR 1,226.34), up by 9.4 percent year on year, and by 2.8 percent quarter on quarter, the Central Statistical Office (GUS) has reported.

"Soon wage growth in the Polish economy may be double-digit," Piotr Bujak, the director of the PKO BP's economic analysis department, wrote on Twitter on Wednesday.

"This is good for the real purchasing power of consumers and consumption demand, but at the same time it complicates the fight against globally elevated inflation," he added.

Prices of consumer goods and services (Consumer Price Index, CPI) increased by 6.8 percent year on year, and by 1.0 percent month on month in October 2021, GUS said in a flash estimate.

In September, CPI reached 5.9 percent year on year, and 0.7 percent month on month.