“Braking of GDP growth in Poland this year will be even more severe than previously assumed“- stated Pekao analysts.” The increase at the beginning of the year was probably higher than we previously estimated (approx. 7 percent), but the bottom of the cycle may be around 1 percent. y / y The forecast of the average annual growth will be reduced to 3.1 percent “- they indicated.
The most important factor determining the Polish and European economy will be the increase in energy prices. “The energy commodity markets are pricing in a significant drop in the supply of Russian energy resources,” recalled Pekao. It stated that “the price increase will be particularly acute for many Western European countries where the role of this fuel in the system is significant”.
Analysts expect inflation to rise further, mainly due to rising fuel prices. “Annual average inflation in Poland will increase by approx. 1.5 percentage points. percent to 8.4 percent, with a peak in May-June of 9.5 percent. y / y“- they stated.
However, they stressed that we would not expect a “drastic” increase in prices: it would be stretched over time. This will be felt primarily in the context of food prices. Moreover, it was stated that “agricultural production costs will also increase due to rising gas prices, which will translate into further increases in nitrogen fertilizer prices”.
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/elfinanciero/6ZDYCIJEMFGPNGTNE66K6BL42E.jpeg "Visiting bars are expelled from stadiums, announces Liga MX – El Financiero")
