The inflation rate measured by the HICP method was 11.6%. YoY compared to 10.9% in August YoY and 1.2 percent m/m compared to 2.2 percent. m / m in August.
All of these results are far above expectations. As Pekao analysts emphasize on Twitter, readings from other EU countries are similar (above expectations), which in their opinion indicates that “Peak inflation in Europe is still ahead”.
The German economy is in trouble. This is also bad news for Poland
A survey of private sector managers activity showed that the German economy contracted for another month in a row in October. According to the initial reading, the indicator PMI (PMI) In October 2022 for the services sector it fell to 44.9 Point Compared to 45 points a month agoa For Industry – up to 45.7 points For 47.8 points, this is the lowest score at 29 and 28 months, respectively.
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See also: Another industry is in crisis. Germany suffers from underemployment
The difficult situation for Germany is also very bad news for PolandBecause our economy is largely dependent on trade with our western neighbor, bad data from Germany usually serves as a forecast of how the situation will change in the next few months in our country.
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