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Financial News: Poland GDP Rebounds In Q3; Inflation Accelerates Further

Poland GDP Rebounds In Q3; Inflation Accelerates Further

11/15/2022 - 08:42:00 (RTTNews)

(RTTNews) - The Polish economy expanded in the three months to September after contracting in the previous quarter for the first time in two years, flash data from Statistics Poland showed on Tuesday.

Consumer price inflation continued its rising trend in October, separate official data revealed.

Gross domestic product advanced 0.9 percent sequentially in the third quarter, reversing a 2.3 percent fall in the second quarter.

On a year-on-year basis, GDP growth eased to 4.4 percent in the September quarter from 5.6 percent in the June quarter.

Data also showed that seasonally unadjusted GDP grew at a slower pace of 3.5 percent annually versus a 5.8 percent increase in the previous quarter.

In a separate report, the statistical office showed that consumer price inflation climbed to 17.9 percent in October from 17.2 percent in September.

The upward trend in inflation was mainly contributed by a 28.7 percent surge in utility costs. This was followed by a 22.0 percent rise in prices of food and non-alcoholic beverages.

On a monthly basis, consumer prices rose 1.8 percent in October versus a 1.6 percent gain a month ago.

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