Inflation in July 2021 in Poland was 5.0 percent year on year. In monthly terms, the prices of consumer goods and services increased by 0.4 percent, according to a quick estimate prepared by the Central Statistical Office.
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Inflation was at 5 percent for the last time. in May 2011. Prices of consumer goods and services in June 2021 grew by 4.4 percent year on year and month on month – 0.1 percent.
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Fuel, energy and food prices
The preliminary data of the Central Statistical Office show that in July this year. Both year on year and month on month the prices of fuel for private means of transport increased the most. About 30 percent respectively. and 4.4 percent
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The prices of energy carriers increased by 5.3 percent. year on year and 0.1 percent. month to month. In the case of food and non-alcoholic beverages, an increase was recorded in annual terms by 3.1%. and a decrease of 0.4 percent. compared to June.
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PAP / Maciej Zieliński
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MBank’s economists pointed out that the May 2011 level had been evened out. “In search of higher readings, you should dive deeper into history and go back to 2001. Alternatively, you can wait for the next months, because 5% is not the maximum inflation this year” – assessed the economists.
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In the opinion of PKO BP economists, the culprits of the price increase in July are more expensive fuels and food. “More expensive food and energy fuel inflation. Fuel is still becoming more expensive (30.0% y / y)” – echo Bank Pekao economists.
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From the data of the European Union’s statistical office Eurostat shows that the price increase in June in Poland was one of the highest in the entire European Union. Only Hungary was ahead of our country.
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Inflation in the European UnionPAP / Maciej Zieliński
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photo-source">Main photo source: Sia Footage / Shutterstock
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