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Inflation in Poland. Andrzej Olechowski on food prices: this is a mystery to me

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All energy and fuels are a state, a state monopoly. Prices have gone up sharply here. Now they are declining, but not at the pace we see elsewhere abroad, said the former head of Polish diplomacy and former finance minister Andrzej Olechowski in “Fakty po Faktach”. “Food, on the other hand, is a mystery to me,” he admitted, adding that in other countries food prices “have not gone up that much.”

According to preliminary data from the Central Statistical Office in March 2023, price growth was 16.2 percent year-on-year. Compared to the previous month inflation amounted to 1.1 percent. Energy carriers and fuels for private means of transport increased by 26% and 26%, respectively. and 0.2 percent On a monthly basis, the prices of food and non-alcoholic beverages increased by 2.3%. On the other hand, energy prices fell by 0.6%. compared to Feb fuel prices to private means of transport went down by 1.8 percent. month to month.

In February, the increase in the prices of goods and services was 18.4 percent on an annualized basis, which was the highest level since December 1996. Core inflation stood at 12% in February. Every year. Meanwhile, experts, including economists from the PKO BP bank, estimate that core inflation will increase in March.

Olechowski: I observe food prices in other countries, they have not increased so much

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The former head of the Ministry of Foreign Affairs and former finance minister Andrzej Olechowski explained in “Fakty po Faktach” on TVN24 that the core inflation “is the one after deducting the prices of food and energy resources”.

Olechowski on inflation. “Food is a mystery to me”TVN24

He said that core inflation “results from bad policy and structural inequalities in the economy.” “This one is the hardest to fight,” he said.

Olechowski argued that we see a decrease in the price of energy resources, but “our food is already a mystery, I must say.” – These two sectors, i.e. heat, energy and food, which are the most important for people who are particularly weak, are in total under significant control of the state. All energy and fuels, and so on, this is the state, this is the monopoly of the state in general. Prices have gone up sharply here. Now they are declining, but not at the pace we see elsewhere abroad, continued the former finance minister.

But food is a mystery to me. Either it’s so energy-intensive, or there’s a big problem there. I observe the prices of food products in other countries, they have not increased so much – he added.

Main photo source: TVN24



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