Poland's government has announced that it will end the 0% VAT rate on food that was introduced two years ago to help soften the blow of soaring inflation. The finance ministry argues that the recent slowing of price rises renders the measure no longer necessary....
inflation
Inflation in Poland below 4% for first time in almost three years
Inflation has slowed rapidly from its peak of 18.4% in February last year.
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Inflation falls below 10% in Poland for first time since Russia’s invasion of Ukraine
Inflation slowed in September to 8.2% year-on-year, below analysts’ expectations of 8.5%.
Polish central bank surprises market with larger-than-expected interest rate cut
The interest rate cut, from 6.75% to 6%, is Poland’s first in three and a half years.
Inflation slows in Poland to lowest level in over a year
The Polish Economic Institute estimates inflation will fall to single-digit levels around October this year.
Core inflation rises to new high of 12.3% in Poland
While Poland’s headline inflation has begun to fall, core inflation – which excludes goods with the most volatile prices – has continued to rise.
Inflation rises to new 26-year high of 18.4% in Poland
Prices of food, transport and energy rose fastest.
Poland recorded EU’s biggest GDP fall in fourth quarter of 2022
Poland’s seasonally adjusted GDP in Q4 of 2022 fell by 2.4% from the previous quarter, compared to a drop of 0.1% for the EU as a whole.
Core inflation in Poland continues to rise, reaching 20-year high of 11.5%
Core inflation, which excludes volatile food and fuel prices, is seen as a more accurate indicator of prices that can be influenced by monetary policy.
Inflation dampens Poles’ Christmas cheer
Alicja Ptak
“People are now buying individual branches rather than whole Christmas trees.”
Inflation unexpectedly slows to 17.4% in Poland, first fall since February
Analysts believe the figures mean inflation has peaked this year, but warn that it will rise again early next year.
Police protest in Warsaw, demanding higher pay
Members of Poland’s uniformed services – including police, border guards, firefighters and prison guards – want pay rises to match soaring inflation.
Polish government to withdraw anti-inflation measures due to “threats from EU”
The prime minister assured that new measures would be put in place to protect households and businesses.
Poland’s development bank scraps bond auction after sharp rise in yields
Poland’s 10-year bond yields exceeded 9% for the first time in more than 20 years