Financial News: Poland GDP Growth Improves In Q2, Inflation Rises

Poland GDP Growth Improves In Q2, Inflation Rises As Estimated

08/14/2024 - 08:29:00 (RTTNews)

(RTTNews) - The Polish economy expanded at an accelerated pace in the second quarter, flash data from Statistics Poland showed on Wednesday.

Consumer price inflation rose to the highest level in seven months in July, the final figures revealed.

Gross domestic product advanced 1.5 percent sequentially in the second quarter, faster than the revised 0.8 percent rise in the first quarter. That was above the expected growth of 0.9 percent.

On a year-on-year basis, GDP growth accelerated to 4.0 percent in the June quarter from 1.8 percent in the March quarter.

Data also showed that seasonally unadjusted GDP grew at a faster pace of 3.2 percent annually in the second quarter versus 2.0 percent growth in the preceding three-month period.

In a separate report, the statistical office showed that consumer price inflation climbed to 4.2 percent in July from 2.6 percent in June. That was in line with the flash data published earlier.

The annual price growth for food and non-alcoholic beverages rose to 3.2 percent from 2.5 percent in June. Education costs surged at a steady rate of 9.0 percent, and housing and utility costs were 8.7 percent more expensive.

On a monthly basis, consumer prices rose 1.4 percent in July versus a 0.1 percent gain a month ago, as estimated.

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