Economy
22:32 5 May 2021
Post by: WBJ

Price increases of services in Poland highest in Europe

Haircutting, wall painting, or garbage collection are among the services whose prices are growing fastest in Poland compared to other EU countries, stated the HRE Investments analysis. Experts indicated that in some cases the increases in the last year were in the tens of percent.

The chief analyst of HRE Investments, Bartosz Turek, noted that Poland is among the European leaders among others fees for financial services provided by banks and related institutions.

"The data for March suggests that we had a 47.6 percent increase in this case in just one year," he explained.

According to him, it is one of the effects of low interest rates set by the Monetary Policy Council. He recalled that the recent unprecedented interest rate cuts have brought interest rates to a record low. On the other hand – to improve financial results, banks also cut interest rates on deposits and increased fees for services provided.

"Polish banks did it fastest in Europe," he stressed.

Over the past year, domestic bookbinding and e-book services have also experienced the fastest-growing prices in Europe. The analyst pointed out that the costs of garbage disposal are also at the forefront. 

"On the other hand, there is much less talk about the purchase of animals, which – like garbage – has increased by more than 30 percent during the year," Turek remarked. 

(WBJ) 



poland
services
banks
europe
prices
hre investments
bartosz turek

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