Meanwhile, inflation is projected to stand at 3.9 percent this year, followed by 3.1 percent in 2026 and 2.4 percent in 2027, the National Bank of Poland (NBP) said in its latest Inflation Report, which was released on July 4.
In its previous projection, the bank had expected the Polish economy to grow 3.7 percent in 2025 and 2.9 percent in 2026.
'Uncertainty persists'
According to the report, global economic growth remains below its long-term average.
In recent quarters, it has been supported by favourable labour market trends and wage growth in many countries, the Polish central bank said.
It added that economic conditions in some countries were "still adversely affected by the effects of the earlier tightening in financial conditions and major supply shocks."
Additionally, "uncertainty persists over the outlook for global activity, related, among others, to changes in trade policies," the bank said.
In the first quarter of 2025, "annual GDP growth in the euro area accelerated to 1.5 percent, while in the United States it slowed down to 2.1 percent," it reported.
Inflation subsiding
The report also said that consumer price growth in Poland has decelerated in recent months due to factors including slower annual growth in the prices of food and fuels.
"Inflation excluding food and energy prices has declined in recent months, mainly owing to the fall in annual growth in services prices and slow growth in the prices of non-food goods," the report added.
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Source: IAR, PAP, nbp.pl