The final CPI inflation in Poland for July was confirmed at 1.4% month-on-month and 4.2% year-on-year. This marks the fourth consecutive month of acceleration, reaching the highest level since December of the previous year. The preliminary estimate of GDP growth for Q2 was a pleasant surprise, recording an increase of 1.5% quarter-on-quarter (market estimate: 0.9% quarter-on-quarter) and 3.2% year-on-year (market estimate: 2.8% year-on-year). Although detailed data are not yet available (they will be published on August 29), it can be estimated that household consumption contributed significantly to this strong growth. With rising inflation (and core inflation remaining high at 3.6% year-on-year in June) and data indicating a continued recovery in the Polish economy, an interest rate cut by the National Bank of Poland (NBP) this year is unlikely.
Source: https://managerplus.pl/polska-gospodarka-rosnie-szybciej-niz-oczekiwano-90973
