Hikes in electricity and gas prices to push inflation to around 10% in spring: economists
01:32
In April next year, inflation may already reach 9.4 percent, and on average it will be 7.8-8 percent throughout 2022, as Bank Pekao SA economists estimate. BNP Paribas experts expect even higher inflation: 9.6 percent in April and 8.2 percent of the annual average. In turn, mBank economists calculate that the average inflation for the entire next year will be around 7.8 percent. For comparison – this is the same as the annual price increase index in November this year.
All these calculations take into account the activities of the so-called government anti-inflation shield. The government temporarily lowers indirect taxes on electricity, gas, and fuels, and introduces shielding allowances for the poorest.
The immediate reason for such a high price growth rate is to be the increase in electricity and gas tariffs for individual consumers for next year, announced by the Energy Regulatory Office. The increase in electricity prices in 2022 will amount to around 24 percent, i.e. around PLN 21 per month. Gas prices will increase by as much as 54 percent.
