The head of the National Bank of Poland (NBP) has said a recent cycle of interest-rate hikes is merely on hold rather than formally at an end.
Prices of consumer goods and services (Consumer Price Index, CPI) increased by 12.3 percent year on year and by 2.0 percent month on month in April 2022, the Central Statistical Office (GUS) reported in a flash estimate on Friday.
The majority of Poles have decided to limit their spending due to increasing prices but few of them plan to ask for a pay rise, a new poll has shown.
Poland’s inflation rate, which has a hit 21-year high, is the result of the Russian invasion of Ukraine, the Polish Economic Institute (PIE), an advisory body to the government, said on Friday in reaction to the country's March CPI data.
The inflation rate in Poland jumped to 7.7 percent, year on year, according to a flash estimate by the the Central Statistical Office (GUS).
Finance Minister Tadeusz Koscinski has said he expects Poland's inflation to decelerate in the next few months.