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Rapid rise in wages fuels consumption surge in Poland: Polish think tank

Photo: Beata Zawrzel/NurPhoto/Getty Images.
Photo: Beata Zawrzel/NurPhoto/Getty Images.
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The primary catalyst for the heightened levels of consumption in Poland is the rapid increase in salaries, reported a Polish think tank on Tuesday.

According to data from the Polish Economic Institute (PIE), the average Polish wage in March was 12% higher than the year prior.

Taking into account inflation, this represents an increase in the purchasing value of wages of 9.8% year on year, which is the highest in the history of the PIE study.

The rapid rise in salaries, added the institute, has boosted savings while also allowing Poles to make more purchases.

This appears reflected in the figures.
On Tuesday the Central Statistical Office (GUS) published a report stating that Poland’s retail sales increased in real terms by 6.1% year on year in March. This is the third month in a row in which retail sales have risen.

According to PIE’s estimates, the significant improvement in sales in Poland will continue for at least the next two years.
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