Inflation has peaked

In accordance with the GUS data, CPI inflation rose to 4.7% YoY in February vs. 4.3% in January (revised downwards from 4.4%), running above the market. ... More

Higher minimum pay boosted wage dynamics

he significant acceleration in wage growth in January resulted from a higher-than-last year increase in the minimum pay (in 2019 it was raised by 7.1% while in 2020 it rose by 15.6%). ... More

Inflation at 8-year high

In accordance with the GUS final data, CPI inflation rose to 4.4% YoY in January vs. 3.4% in December 2019, running above the market consensus (4.1%) and slightly above our forecast (4.3%). ... More

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