Polish August wage growth slows to 5.6% year-on-year
Wage growth in Poland slowed more than expected in August to 5.6% year-on-year from a forecast of 6.4%. In monthly terms, wages fell by 2.6%, while corporate employment fell 0.8% year-on-year. ING analysts noted that wage pressure remains subdued, with the main inflation risk being the external energy shock.
WARSAW, Sept 21 (Reuters) — Wage growth in Poland, closely watched by the central bank for its effect on inflation, slowed more than expected in August, data showed on Monday. 4% forecast by analysts. 6%. 8% year-on-year, in line with market expectations.
"Wage pressure remains subdued, with the main risk factor for inflation being the external energy shock," ING analysts wrote in a commentary. 5% upper limit of the inflation target range. "This picture of the labour market is favourable from the perspective of the Monetary Policy Council," said PKO BP. 75% on September 9, maintaining its cautious approach as rising commodity prices and increased energy costs create a risk of higher inflation.
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