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Bloomberg
Polish wages are growing at the fastest pace since 2008, raising concern over a spike in inflation that the central bank said is
temporary.
Average wages in industrial sector jumped 10.1% in May compared with a year earlier, the Statistical Office said. When Poland last had double-digit wage growth, the central bank’s benchmark interest rate stood at 6%, compared with the
current 0.1%.
Central bank Governor Adam Glapinski has repeatedly dismissed calls for monetary tightening, saying inflation will eventually slow and central bank must continue supporting economic growth during pandemic.
The surge in wages comes as economy reopened in May after latest bout of coronavirus restrictions, boosting worries about
demand-side cost pressures.