Retail sales in August rose in real terms by two percent year to year but decreased by 1.8 percent compared to July – according to the latest CSO data. – Poles still spend money quite cautiously although their affluence is growing at a faster pace than a few years ago. Still fresh memories of the last economic slowdown and quite good conditions for investing surplus funds make them more willing to save money – says Łukasz Kozlowski, an expert of Employers of Poland.
Deflation made Polish consumer spending on products almost all categories decrease compared to July of this year. If you take into account the impact of falling prices, sales growth occurred primarily in basic consumer goods – such as food, fuel and other convenience products. We spent smaller amounts, among others, on clothes, medicines, and cars.
Łukasz Kozlowski, an economic expert of the Employers of Poland