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Inflation in Poland. Financial analyst Piotr Kuczyński comments on TVN24

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The peak of inflation in Poland will take place in the first quarter of next year. The beginning of the decline from such a high level of growth in prices of goods and services will take place in the second quarter – financial analyst Piotr Kuczyński noted on TVN24.

He added that “inflation in the vicinity of 2-3 percent is considered favorable by economists.” “6.8 percent is not OK, that’s clear,” he pointed out.

Inflation in Poland – when is the peak?

In his opinion, the peak of high inflation may “extend into the first quarter” of 2022. – I am of the opinion that we will see a significant slowdown in inflation in the second half of the year at the latest – said the analyst.

According to Kuczyński, it is “impossible to predict” the level of the price increase in Poland. – We can say that the peak will probably be higher than the current 6.8 percent and I suspect that we will see a decline in this high inflation only in the second quarter – he said.

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Wage growth and high inflation in Poland

– Wages are rising, this moderates the price increase somewhat – said Kuczyński.

He added that “the minimum wage has increased by 7.5 percent this year, which is practically as much as inflation.” – You have to take into account that the less affluent spend more on food, which is particularly expensive, and they feel this inflation more – he stressed.

According to the analyst, everyone feels inflation differently, because “everyone has a different structure of expenses”.

Kuczyński: inflation dropped only in the second quarter of 2022TVN24

Inflation in Poland

According to a quick estimate of the Central Statistical Office, inflation in October was 6.8 percent. yyyyy On Wednesday, the Monetary Policy Council decided to raise the reference rate by 75 basis points to 1.25 percent.

– Countries whose economy is accelerating economically after the pandemic, and Poland belongs to such countries, must take into account an increase in inflation. But inflation of 6.5 percent or 7 percent, if it persists in the long term, is a threat to economic growth. These are the factors that worry me very much – Prime Minister Mateusz Morawiecki said on Friday.

On Wednesday the president of the NBP, Adam Glapiński, announcedthat on November 8 a detailed inflation projection will be presented by the NBP. He noted that economic growth will be slightly below 5 percent and there will be higher inflation, the peak of which is expected in January next year. – This inflation is elevated at the moment and we expect that in January next year it may reach the level of 7 percent, maybe a little above. From that moment on, it will decrease – he said.

Inflation in PolandPAP

Main photo source: Shutterstock



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