Inflation in August it may break the record reading from July, which was 5 percent. – economists expect. According to averaged forecasts, one of the most important economic indicators may amount to 5.1%. However, some experts predict the reading at an even higher level.
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Record inflation? “Increase in prices of a wide range of goods and services”
Economist bank PKO BP Kamil Pastor in an interview with the Polish Press Agency stated that inflation would be significantly higher than in July. “We forecast inflation in August at 5.3% y / y. We expect an increase cen a wide range of goods and services. High fuel prices and rising food price dynamics are still contributing to high inflation, “he said.
Credit Agricole experts point out to the great importance of food prices for inflation. In this category, they raised their inflation forecast from 2.3% to 2.6%. in 2021.
Inflation may be as high as 5.5 percent. But what then?
Monika Kurtek, chief economist of Bank Pocztowy, predicts that inflation in Poland will reach even 5.5 percent. The peak is expected at the end of the year.
High values may persist for several months. Economists predict, however, that high inflation will not stay in Poland for long. In spring it is to start dropping quickly to the level of 2.6-2.8 percent.
The National Bank of Poland has been inclined to this forecast for months. Adam Glapiński, the head of the National Bank of Poland, has repeatedly stated that high inflation in Poland is of a temporary nature. – Inflation projection of 4.1%. in 2021, it is only due to increases in energy, fuel and waste disposal prices. With their expiry, inflation will drop next year, he said in July.
Dr. Jakub Karnowski from the Warsaw School of Economics in an interview with next.gazeta.pl reminded that high inflation is a dangerous phenomenon. – I would advise you not to allow uncontrolled increase in inflation and not to underestimate it. Inflation it harms Poles, especially the less wealthy. The costs of breaking it down to the NBP inflation target may be very high. Inflation twice as high as the inflation target is very risky – stated.
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