Prosperity Index recorded the first decline in seven months in August

The Prosperity Index, reflecting the economic condition of Polish society, recorded a 1-point drop in August, the first in seven months, the Bureau of Investments and Economic Cycles (BIEC) reported.

BIEC indicates that the reason for the decline in the index is rising inflation.

"It is true that wages continue to rise at a pace that exceeds the price increase, but wage growth does not extend to all employees, as opposed to the rise in consumer goods and services prices. Moreover, the pace of wage growth starts to slow down slightly. In the period April-June this year, real wages increased. at the rate of about 5 percent per annum, and in July it slowed down to 3.4 percent," the release reads.

(PAP)